This year’s His & Her gift from Neiman Marcus is an ICON A5 Sports Aircraft. It runs on gas or aviation fuel, is designed to take off and land on water as easily as ground, has an MP3 player dashboard dock, and boasts a streamlined two-seat interior, but do not expect that in leather.
Neimans, once renowned for its fine furs, is looking to cotton pelts and other fabrics to cinch the waistline of its falling sales. The stores are generally among the most successful retailers per square foot, but they have stepped into $3 billion in debt while waiting for luxury to be the new black again.
Prada’s got a hobo bag going for $400 less than its average priced tote. And the crocodile’s cousin may show up as a woolen handbag. The trend away from high-dollared items appears in other industries as well. Jack Daniels is turning to premixed products to offset declining revenues. And Champagne bottling is down 44% by the world’s top Champagne producer. You may be ringing in the New Year with a toast of Southern Comfort.
The ICON A5 Sports Aircraft retails at $250,000, but production will not be completed until late 2011. Maybe economic times will be better by then.
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