Even Fashion Giants Chanel and LVMH Forced To Trim Their Budgets
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Chanel Cutbacks, Chanel Recession, Economy, Financial Crisis, Louis Vuitton Recession Louis Vuitton Megastore Tokyo, LVHM Recession,
Style News
Times Of London:
Chanel, one of the grandest French fashion names, is to lay off 200 Paris staff in an unmistakable sign that even the world's top luxury brands are feeling the pinch in the global recession.
Until recently, France's marques de grand luxe were claiming immunity from the slump. Demand for the high end was holding up, driven by the luxury appetites of the nouveaux riches of Russia, China and other emerging powers, they said.
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First Posted: 12-30-08 10:30 AM | Updated: 01-30-09 05:12 AM