Word: leatherous
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Handbags have a 30% to 40% margin, while apparel has only 15% to 20%, which is why luxury brands use the runway to leverage their image and then optimize profitability with leather goods. In Gucci's case, leather goods make up more than 50% of profits, the majority of those from handbags. Financially, the strategy is working. "They are performing extremely well, despite the slowdown of the general consumer market," says luxury analyst Yasuhiro Yamaguchi of UBS in London. "Coach, Tiffany and Burberry are all saying they've started to see slowdown, but Gucci is resisting the cyclical downturn...
...Combining digital-age technology with old-fashioned shoe leather, the Illinois Senator first rallied Iowa students to cancel Clinton's cakewalk. While enthusiastic Democrats of all ages produced a 90% increase in turnout for the first caucuses, the number of young voters was up half again as much: 135%. The kids preferred Obama over the next-closest competitor by more than 4 to 1. The youngest slice - the under-25 set, typically among the most elusive voters in all of politics - gave Obama a net gain of some 17,000 votes. He won by just under...
...Still, it's not clear that that Syria's rejection of Annapolis means it seeks confrontation with Israel. Despite the presence of Meshal and a few other leaders, a look at the graying conference attendees - mostly third-tier political cadres sporting corduroy suits, leather trench coats, and other 70s fashion statements - suggests that the best minds of the resistance are busy elsewhere...
...Cost of the new Kale Miles leather belt. The item's high price tag is due mainly to its nearly 8-oz. (0.25 kg) platinum buckle...
...Number of weeks it takes to make each buckle in a Boston workshop. Leather cutting and assembly are done by hand in Maine over the course of one week, with materials supplied by an English tannery...