REPORT
May 22, 2014
Bankrupted by designer bags

As emerging economies transform the consumer base for high-end goods, luxury is moving out of range of all but the very richest. The fashion industry is rushing to fill the gap, as the notion of aspiration is remodelled to appeal to a diverse range of consumers – and budgets.

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“I can’t afford to buy that high-end fashion stuff. I wish I could, but the truth is things are just so expensive.” It sounds like the kind of thing any average consumer would say. But these are the shopping concerns of Kate Hudson – A-List actress with a rock-star boyfriend and two famous parents. And she was talking to high-fashion glossy Harper’s Bazaar. [1]