Non plus. Now it, like almost every other fashion and luxury goods company from Armani to Tiffany, is going into
Christian Louboutin survival mode as shoppers flee and operating profits drop, just as strong cash flows are needed most to pay for the rapid global expansions. maintenant, comme presque tous les autres de la mode et du Luxe socit d'Armani Tiffany, est de passer en mode survie en tant que consommateurs fuir et bnfices d'exploitation baisse, tout comme les flux de trsorerie solides sont le plus ncessaires pour payer les expansions mondiale rapide. Claudia D'Arpizio, a Bain & Company partner in Milan and the consulting firm's retail goods expert, won't go so far as to predict bankruptcies as the recession gets worse. Claudia D'Arpizio, un partenaire de Bain & Company Milan et de marchandises au dtail d'experts de la firme de consultants, n'irai pas jusqu' prdire la faillite que la rcession s'aggrave. "But, for sure, we will see some restructurings in the industry," she said. "Mais, bien sr, nous verrons quelques restructurations dans l'industrie, dit-elle. In Milan's glamorous, boutique-lined Quadrilatero D'oro ("golden quadrangle") the signs of a shoppers' strike are readily apparent. A Milan, glamour, boutique-aligns Quadrilatero d'Oro ("quadrilatre d'or") les signes d'acheteurs "une grve est vidente. At first, the famous shopping streets, including Via della Spiga and Via Montenapoleone, look like something out of a fashionista's dream. Dans un premier temps, les rues commerantes les plus clbres, y compris la Via della Spiga et via Montenapoleone, ressembler quelque chose de fashionista de rve. The streets sparkle beneath an overhead carpet of white lights. L'clat rues sous un tapis gnraux de lumires blanches. Each boutique is a minor design masterpiece, some understated and elegant, such as Ralph Lauren, others decadent, such as Dolce & Gabbana. Chaque boutique est un chef-d'uvre de conception mineurs, certains sous-estims et lgant, telles que Ralph Lauren, d'autres dcadente, comme Dolce & Gabbana. The D&G shop is dominated by a long dining table, festooned with roses, candelabra and raised crystal bowls overflowing with fruit and nuts. Le D & G magasin est domine par une longue table manger, dcore de roses, candlabres et soulev les bols de cristal dbordant de fruits et de noix. But the stores aren't attracting their usual crowds. Mais les magasins ne sont pas attirer les foules leur habitude. On a recent afternoon only 10 days before Christmas, when you would expect the shops to be packed, the D&G store was almost empty. Un aprs-midi rcente seulement 10 jours avant Nol, quand vous pouvez vous attendre dans les magasins pour tre emballs, le D & G magasin tait presque vide. Women's shoes were already 40 per cent off. Chaussures femmes taient dj 40 pour cent au large. Some stores started marking down merchandise as early as November, but have been very discreet about their sales. Certains magasins ont commenc marquer des marchandises ds Novembre, mais ont t trs discrets sur leurs ventes. Price tags on one collection of
chaussures Christian Louboutin were reduced by 40 per cent, but the discount was not advertised. tiquettes de prix sur une collection de Christian Louboutin ont t rduits de 40 pour cent, mais la rduction n'a pas t publi. At the sleek Armani store, where the doorman slips customers' umbrellas into plastic sheaths, only three or four shoppers were browsing. la boutique Armani lgant, o le portier glisse "parapluies clients dans des gaines en plastique, trois ou quatre seulement ont t acheteurs navigation. Ralph Lauren was similarly quiet. Ralph Lauren a t de mme calme. So much for the theory of the recession-proof industry. Voil pour la thorie de l'preuve de l'industrie rcession. Luxury-goods companies had always been somewhat immune to economic downturns. De biens de luxe entreprises a toujours t un peu l'abri de ralentissement conomique. Not this one. Pas celle-ci. Mario Boselli, president of the Camera Nationale della Moda Italiana (CNMI), the fashion industry's lobby group, said the industry faces two big problems. Mario Boselli, prsident de la Camera della Moda Italiana Nationale (CNMI), l'industrie lobby groupe de la mode, dit l'industrie fait face deux gros problmes. The first is the psychology of crisis, where
chaussures Louboutin even the wealthy are refraining from buying. La premire est la psychologie de crise, o mme les riches sont en s'abstenant d'acheter. "The rich people do not want to spend money," he said. Les gens riches ne veulent pas dpenser de l'argent, dit-il. "They're not in the right mood." "Ils ne sont pas dans la bonne humeur." Indeed, luxury items seem to have gone from social status symbol to stigma as the recession boosts unemployment levels everywhere. En effet, les articles de luxe semblent avoir pass de symbole de statut social la stigmatisation que la rcession augmente le taux de chmage partout. Some shoppers in Milan, New York and elsewhere are even asking for logo-free to cart away their booty, all the better to avoid broadcasting that they didn't have to mortgage their house to buy a Gucci or Vuitton . Certains acheteurs Milan, New York et ailleurs se demandent mme pour le logo sans vacuer leur butin, tant mieux pour viter de diffuser ce qu'ils n'ont pas hypothquer leur maison pour acheter un Gucci ou Vuitton. The second problem is that the recession is global. Le deuxime problme est que la rcession est mondiale. There are no safe havens for the luxury goods companies, including in Asia, which had propelled the market's growth in recent years. Il n'ya pas de refuges pour les produits de luxe les entreprises, y compris en Asie, qui avait propuls le march de croissance de ces dernires annes. "This is a world crisis. The last
Bottes Christian Louboutin one was confined to the West," Mr. Boselli said, referred to the slowdown after the Sept. 11, 2001, terrorist attacks. Il s'agit d'une crise mondiale. Le dernier a t limit l'Ouest, a dclar M. Boselli, vise au ralentissement aprs le 11 septembre 2001, les attaques terroristes septembre
