DALLAS, Dec 29, 2008 / FW/ — It looks like the luxury market is not totally recession proof as everyone used to believe. French fashion house Chanel, leading luxury purveyor is “200 jobs as fears grow that the supposedly recession proof luxury market is falling victim to the global credit crisis,” reported The Guardian in London.
The same report cites that Bulgari, Prada and LVMH, the world’s biggest luxury company are not immune to recession either.
Read full story here: Chanel sheds 200 jobs as sales of luxury items decline
Paris Haute Couture Spring 2009