I must do a summary of the following text... but I don't understand all... someone can tell me the key points...
The party's over, even for the superrich. High-net-worth individuals, who lived on a scale most of us can't imagine鈥攑rivate jets; megayachts; third, fourth and fifth homes; gleaming AmEx black cards with no limit鈥攁re seeing their credit-card bills come due. So they're cutting back, in their own way, by selling the boat, buying ready-to-wear instead of couture and giving up Iranian caviar for breakfast鈥攂aby steps. It might sound ridiculous, but they've got to start somewhere. Of course, they don't exactly qualify as Wal-Mart shoppers yet; the ultrawealthy are still ultrawealthy, just slightly less so.
In terms of buying power, they remain a force to be reckoned with鈥攁nd for luxury conglomerates, a demographic to be even more aggressively courted. But the nouveau expenditures of recent memory seem a little gauche when your housekeeper just had her house repossessed and your pool boy is drowning in debt. A new era of less obvious luxury is about to be ushered in, the kind that walks softly and doesn't carry an oversize, logo-covered stick. Foreshadowed by the success of ahead-of-the-curve brands like Bottega Veneta, we can expect the luxury industry to attempt an overnight transformation to understatement.
For starters, consumers would be well served to cut out overtly branded handbags with outrageous price tags. %26quot;It%26quot; bags haven't been where it's at for a while now, and those who continue to carry them look more like fashion victims than trendsetters. The only markets where they continue to be status symbols are in those that are relatively insulated from the financial meltdown, like the Middle East, Russia and India. Although their markets and currencies are being battered, they still have vast reserves of newly minted wealth waiting to be spent, and a burning desire for obvious symbols to affirm their new status.
For the rest of the world, however, it's a good time to get back to basics, and with handbags it doesn't get much simpler than the classic tote. The Platonic ideal of carryalls, tote bags can range from humble to haute, but whatever the price point, they share an essential shape that marries classic form with practical function, such as schlepping stacks of bills from the bank to stuff under your mattress. L.L. Bean makes a no-nonsense canvas model for under $20, and Anya Hindmarch's collectible %26quot;I Am Not a Plastic Bag%26quot; styles are now running upwards of $100 on eBay鈥攓uite a mark-up from the less than $10 they originally cost. Those who can't bear to carry something common can opt for Herm猫s' Garden Party tote in canvas and grain leather that sells for approximately $1,600, giving the bearer subtle bragging rights without any tacky logo overload.
When it comes to clothing, it's less clear what to wear when the world appears headed for the poorhouse, but a safe guideline seems to be that if people can easily identify your outfit's price tag, then it's time to change. The legions of wealthy women who typically rely on fashion titles like Vogue and Harper's Bazaar for sartorial guidance should check out the masterful creations from Indian designer Sabyasachi, who shows in both Mumbai's and New York's fashion weeks and retails in a number of important boutiques around the world. Both his Indian and Western collections manage to imbue a humble rural esthetic with the kind of effortless style that the upper classes are constantly straining to achieve. He pairs a sophisticated color palette and print sense with traditional hand embroidery in earth tones and antique gold, instead of excessive eveningwear covered in diamant茅 and in-your-face sequins. Sabyasachi finds beauty in the everyday people who are all too often dismissed by the upper classes. His creations serve as a reminder that today's masters of the universe might soon become the little people they've grown used to ignoring, so it might be smart to start looking the part.
Given the level of anxiety in the air, it wouldn't be surprising if former big spenders have lost their appetite for Michelin-starred meals, which can run into the thousands. With a bit more effort, however, and an open mind, foodies can still eat like kings, and in the process get a little healthier by forgoing fancy restaurants for a local farmers market. Cheaper than organic grocers like Whole Foods, farmers markets cut out the middlemen while offering fresher produce. If you have a hard time swallowing the idea of preparing your own food, consider the example of Jamie Oliver, who has advocated this kind of DIY high-style approach for years鈥攁nd made millions off it. The telegenic British chef has not only expanded his chain of Italian restaurants but has also taken to promoting wholesome, back-to-basics eating through a national chain of food centers that offer lessons in cooking and nutrition.
Once the simple high life becomes routine, th
I'm Italian... someone can help me?
I have worked on your question several hours ago and tried to post it from my computer but for some reason Yahoo keeps on rejecting it because it is having temporary problems. I am writing this on someone else's computer. If it works, I will come back to you later from mine, where I have saved the r茅sum茅.
Paragraph one:
After a period when very rich people bought extremely expensive things, their expenditure has had to diminish, and some have even had to sell some of their most valuable possessions, or buy mass made clothing rather than haute couture. It does not mean they buy the cheapest things (Wal-mart sells very cheap clothes) or that they are poor but they have had to be more careful with their money.
Paragraph two:
Though they still spend money, they are less ostentatious about what they buy because it looks bad when other people are so destitute that they are losing their homes. So manufacturers of luxury goods and famous brands have to produce more discrete things as a result.
Paragraph three and four:
Only in very few countries that are still very rich like Middle East states, or in poorer countries like Russia and India that have always favoured flashy goods, is it still possible to display extreme exterior signs of wealth without being frowned upon.
For people who are not rich the best course is to go back to basic useful goods and not buy things because of their fashion image. For those that can afford higher prices they can still buy elegant and costly goods without showing an extravagant label. The example given is that of handbags which had become a wealth statement due to their high priced labels, and there has been a counter movement in that some people are buying cheap bags that make a simple statement and are more practical.
Paragraph five:
The same thing applies to clothing. It is now in bad taste to wear labels that show how much money you have spent on clothes because they appear in fashion magazines. Sparkly clothes that are covered in costly and labour intensive decorations are out. Truly smart people have always tried to look chic without being showy and elegance lies in more muted tones and simpler uncluttered styles.
Paragrapgh six:
People who used to spend a fortune in highly rated restaurants because of their elaborate cooking and recherch茅 dishes are less likely to go to there as often. It is still possible for people who like good food to eat well and they can buy decent food from farmers markets where fresh ingredients are sold at a reasonable price instead of buying ready made meals from middle men. The British chef Jamie Oliver has made a fortune demonstrating that, with a little effort, traditional home-made food can be delicious and is healthier.
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This has taken some considerable time as your text is long, but I hope that I have explained things clearly and simply enough for you.The seventh paragraph seems to have disappeared mid-sentence, so I cannot be of further help.
I'm Italian... someone can help me?
if you want to translate it, go to www.yahoo.com/babelfish
It helps and works!
hope this helps!
