The Rich are Feeling "Luxury Shame" | Newsweek Business

Luxury Shame

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So what are luxury brands and merchants to do in unpopular times? Cultured pearl master Mikimoto, for one, is downplaying glitziness and highlighting heirloom appeal. In early October, it launched a new campaign called "the Original," in which the 115-year-old company emphasizes its tradition by featuring the image of a single cultured pearl in an open oyster shell. "That was a statement that only Mikimoto could make," says Maureen Gribbin, its chief USA spokeswoman. "Back to basics." Curtis, CEO of the Robb Report's parent company, notices the change in tone. "Among the very highest end brands, we are seeing an appreciation for quality and the connoisseur, for pedigree and history over showiness," he says.

Other luxury brands are cultivating a guilt-free image with the timeless strategy of altruism. "You don't realize you've attended the launch of an automobile," says Marvet Britto, CEO of a New York PR agency, "because the vehicle is parked in front of a charity event." In the past, elite marketers like Prada and Masarati matter-of-factly donated deluxe goods to charitybuzz, which orchestrates high-end charity auctions. But lately, they want more exacting "details on the target audience of bidders for our events," says founder Coppy Holzman. "They want to get their brand message in front of top audiences." And in deliriously bidding small fortunes, he adds, the audiences also "address a guilt reality in their psyche." Profligacy is passé now at Charitybuzz, too, Holzman allows. Instead of a fantasy trip that fetches $100,000 bid, he'll opt to sell four trips at $25,000 each—"luxury, but not over-the-top obscene."

And making the scene now is a new style of luxury retailing that, oxymoronically, is introducing discretion and thrift to conspicuous consumption. How can spendthrifts get their fix without the guilt? One option: upstart online membership-only sites like Gilt.com and ideeli.com, which hold first-come-first-served, deeply discounted sales of luxury goods in limited supply. The purchases arrive in the mail in unadorned boxes. Customers "don't want to be seen walking around with huge Prada shopping bags," says Gilt Group CEO Susan Lyne, the former ABC Network president and Martha Stewart chief executive. Now there's a concept: conspicuous consumers who are in the closet.

The Sons of Liberty have been buried in a history written by the rich, but they are rising again. When the stamp act was written in 1765 they were already grumbling about the Hudson Bay and East India Companies restricting trade unions and driving small business out of business. The tax on tea was the final straw. As they (The laborers, the small shop owners, the farmers" gathered and to their fight to the rich, so it will happen again. That is why all the wonderful media, "owned by the rich" keep writing that no one will do anything. They are scared to death that we will. They try an fool everyone into thinking they are the only ones thinking the greedy Republican rich need to be reminded of the consequences of their actions in crushing the hopes of our children's futures. They must be made to feel the consequences as we do. We fear for our jobs, our homes, food on the table. Lack of affordable health care is a death sentence to millions in America. When the pampered and privileged, the powerful know fear, they might begin to act human. But they won't do so willingly. \

A home a piece of land, safety and security. Why does someone need TWENTY BILLION DOLLARS in the bank? They don't spend it. The only trickle down we get is yellow and warm. What could one person possibly due to reasonably earn FIFTY MILLION in one year? Nothing, it is obscene.

The truth is, that we reward sociopathic behavior by promoting ruthless and corrupt people to positions of power. Most successful CEOs are crooks, cheats, and cruel people who care nothing for those who they make slave for their grandeur. Not all, but most members of the boards of directors are directly or indirectly are responsible for the suffering and despair of tens of millions of people in America, and Billions around the world. Some are good, but most just play at being kind. They wouldn't lift a hand or risk getting dirty to help anyone.

The Suns of Liberty are rising again, are you one?

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Posted By: Gregory Gregory @ 02/14/2009 11:29:26 AM

Communism gets it's start by demonizing the rich, this allows those who fear competition, to get started in figuring how to take money from those who earned it, until what???, they are broke also??/ ALL FAILED IDEAOLOGY BLAMES SOMEONE ELSE FOR THEIR FAILURES. Keep America Great.
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Posted By: TruthForward @ 02/10/2009 9:54:26 AM

Luxury Shame is the reason the McCain's spent so much on the Palin wardrobe.
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Posted By: A_sun_of_Liberty @ 02/09/2009 4:12:19 AM

The Sons of Liberty have been buried in a history written by the rich, but they are rising again. When the stamp act was written in 1765 they were already grumbling about the Hudson Bay and East India Companies restricting trade unions and driving small business out of business. The tax on tea was the final straw. As they (The laborers, the small shop owners, the farmers" gathered and to their fight to the rich, so it will happen again. That is why all the wonderful media, "owned by the rich" keep writing that no one will do anything. They are scared to death that we will. They try an fool everyone into thinking they are the only ones thinking the greedy Republican rich need to be reminded of the consequences of their actions in crushing the hopes of our children's futures. They must be made to feel the consequences as we do. We fear for our jobs, our homes, food on the table. Lack of affordable health care is a death sentence to millions in America. When the pampered and privileged, the powerful know fear, they might begin to act human. But they won't do so willingly. \

A home a piece of land, safety and security. Why does someone need TWENTY BILLION DOLLARS in the bank? They don't spend it. The only trickle down we get is yellow and warm. What could one person possibly due to reasonably earn FIFTY MILLION in one year? Nothing, it is obscene.

The truth is, that we reward sociopathic behavior by promoting ruthless and corrupt people to positions of power. Most successful CEOs are crooks, cheats, and cruel people who care nothing for those who they make slave for their grandeur. Not all, but most members of the boards of directors are directly or indirectly are responsible for the suffering and despair of tens of millions of people in America, and Billions around the world. Some are good, but most just play at being kind. They wouldn't lift a hand or risk getting dirty to help anyone.

The Suns of Liberty are rising again, are you one?