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Re:Neiman Marcus files for bankruptcy by chadash on Thursday May 07, 2020 @01:22PM (#23105557)
Do the numbers reflect this? I'm just looking at the stock prices of a few luxury companies like LVMH and and Kering and it seems they were are at all time highs prior to COVID.
Re:Neiman Marcus files for bankruptcy by paganel on Thursday May 07, 2020 @05:28PM (#23108589)
It might be because of China and the Chinese market/customers. It's only anecdotal, but last October I got to visit Vienna for one day (I live in Europe) and I was surprised to see a a lengthy queue outside the Louis Vuitton store close to the St. Stephen's Cathedral. First, I was surprised because I couldn't understand why would anyone still wait in that sort of queue for something to purchase in this day and age (when everything it's at a few clicks distance), and second I was also a little surprised by the fact that about 75% of the people waiting in that queue were of Asian origin, most probably Chinese.
Re:Neiman Marcus files for bankruptcy by chillacy on Thursday May 07, 2020 @09:48PM (#23110541)
These people are probably wealthy enough not to care but if I were buying a $5000 purse I'd want to do it in person, like I'd test drive a car before I bought it.

Also if I were traveling on vacation, ordering online and shipping to my hotel would not be my first choice.

Re:Neiman Marcus files for bankruptcy by cat199 on Thursday May 07, 2020 @06:56PM (#23109360)
> couldn't understand why would anyone still wait in that sort of queue for something to purchase in this day and age

for the social media photo / story of buying it in $exotic_locale

bonus points if you are confusing things by buying french items in austria, obviously

Re:Neiman Marcus files for bankruptcy by alephnan on Thursday May 07, 2020 @03:47PM (#23107364)
Re:Neiman Marcus files for bankruptcy by _bxg1 on Thursday May 07, 2020 @01:36PM (#23105706)
Just my anecdotal impression; it's possible I'm biased by the extents of my bubble
Re:Neiman Marcus files for bankruptcy by ghaff on Thursday May 07, 2020 @01:40PM (#23105749)
You probably are.

Go to Vegas and there are whole shopping malls where, to indulge in just a degree of hyperbole, I'd have to look hard to find something I could afford. Or at least would even consider affording.

Re:Neiman Marcus files for bankruptcy by ardy42 on Thursday May 07, 2020 @02:56PM (#23106775)
> Go to Vegas and there are whole shopping malls where, to indulge in just a degree of hyperbole, I'd have to look hard to find something I could afford. Or at least would even consider affording.

IIRC, Americans don't really shop at those stores. Their costumers are mainly foreign nouveau rich people.

Re:Neiman Marcus files for bankruptcy by _bxg1 on Thursday May 07, 2020 @01:57PM (#23105959)
In fairness, conspicuous consumption is one of the primary draws of Vegas. Probably not a very representative example.
Re:Neiman Marcus files for bankruptcy by blaser-waffle on Thursday May 07, 2020 @03:51PM (#23107405)
And it's also a one-off, in a national and international sense. It's like judging consumption levels in the Muslim world by Dubai.
Re:Neiman Marcus files for bankruptcy by kevin_thibedeau on Thursday May 07, 2020 @04:55PM (#23108189)
NYC has more than one of these sort of malls.
Re:Neiman Marcus files for bankruptcy by jaywalk on Thursday May 07, 2020 @01:45PM (#23105816)
And those malls are usually pretty empty, from my experience.