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Monday, June 30, 2008
Super Rich Keep Buying: Paris Couture Houses See Good Times Roll On
PARIS — One morning last January, a clutch of well-dressed women gathered outside the Christian Lacroix fashion house on the Rue du Faubourg Saint-HonorĂ©.
But the occasion wasn't a sample sale. Rather it was the day after Lacroix's summer couture show, and some of the most privileged women in the world were anxious to get dibs on some of the most expensive clothes in the world.
"At 8:30, they're in front of the door," marveled Marie Martinez, the chic, silver-haired couture director at Lacroix. "They know that after it's sold, it's impossible to have. They want to be the first appointment."
Such impatience is a potent symbol that couture continues to flourish despite widespread economic turmoil. What's more, it's expanding international customer base — flush with wealth, and increasingly from destinations to the east — is demanding more exclusivity and service than ever. As Paris gears up for four days of high fashion shows starting today, couture bosses are bullish, citing high double-digit sales gains last year and predicting strong attendance this week from a widening swath of clients, many from emerging markets with explosive wealth like the Middle East, Russia and Asia.
And as further proof that couture is defying gravity, executives said they have yet to note any dip in U.S. business so far, despite the economic turmoil there.
"What is most important is that haute couture is the ultimate luxury. It's about design, exclusivity, custom-made refinement, and the most exclusive and unique service," said Bruno Pavlovsky, president of the fashion division at Chanel, which saw couture sales rise more than 20 percent last year.
He also noted that the fashion house's January collection, which had models strolling out of a giant Chanel jacket erected in the Grand Palais, was one of its most successful to date.
While the numbers in couture are small, in terms of clients and the production output, Pavlovsky sensed the comeback of sizeable orders. "The last one was eight dresses in one shot," he said.
"The demand for very, very high-end products continues to be very strong," agreed Sidney Toledano, president of Christian Dior, citing an increase in couture sales of more than 35 percent last year and a "strong double-digit" growth so far this year. "Very rich people are not suffering from the crisis. The workshops have been very busy," he said. By Miles Socha - www.wwd.com
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