The Leading Luxury Brands 2008.

In marketing folklore, luxury brands were said to be immune to economic downturns. Their audience of u.ber-wealthy loyalists meant they remained protected during tough economic times. Furthermore, as the global economy prospered, luxury brands attracted new segments of customers who were suddenly able to afford a wealthier lifestyle. It should be no surprise then, that we saw so many luxury brands –Tiffany & Co. as an example – rush to make themselves more accessible to a broader audience over the last ten years. And it is luxury’s reliance on this extended market that now creates risk and makes them vulnerable to the downturn.

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