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...goods business is booming--up 27.7% in the U.S. and 56.2% in Hong Kong in the first five months of this year. Although it's hard to predict how long the boom will last, most analysts agree that where the stock market goes, so goes luxury spending. As Neiman Marcus president and CEO Karen Katz points out, "The last time there was an election, it threw us all into a tizzy." Even with a recently lackluster market, people still seem to be willing to pamper themselves with premium products and services--whether that means buying a $290 face cream...

Author: /time Magazine | Title: Hey, Big Spenders | 9/14/2004 | See Source »

...winds are definitely back in the luxury business," says John Idol, CEO of Michael Kors LLC. "Department stores are doing well again because they are trading up. They know they can't compete with Kohl's and Target." Stores like Neiman Marcus--famous for selling everything from $20 million submarines to $400,000 his-and-hers robots in its over-the-top Christmas catalog--are leveraging the luxury sector by appealing to that 1% of the U.S. that controls more than 30% of the country's wealth. Apparently it's working. According to Neiman Marcus president and CEO Karen Katz...

Author: /time Magazine | Title: Luxury Fever | 9/14/2004 | See Source »

...daughters - had a country home in Sharon, Conn., a summer place in Southampton and headquarters in Manhattan, where Phyllis attended the distinguished Brearley School on East 83rd Street. Among the closest pals in her set were Oona O?Neill (Eugene?s daughter, later Charlie Chaplin?s wife), Carol Marcus (who later married William Saroyan, twice, and Walter Matthau) and little Gloria (whose gallery show opening Phyllis took us to about ten years ago). In 1986 Carol?s son Aram Saroyan published a history-memoir of Gloria, Oona and Carol called ?Trio.? Since Phyllis was an intimate member of the circle...

Author: /time Magazine | Title: Three Reasons to Love New York — Part III | 8/13/2004 | See Source »

...surface this appeared to be a great compliment. Then I thought, if Ryan is like Michael Vick, does that mean that his brother Shaun—a senior tight end at Highland High School in Arizona—is destined to be like Marcus Vick? But this probably wasn’t what he meant...

Author: By Michael R. James, CRIMSON STAFF WRITER | Title: King James Bible: Random Musings From Ivy Media Day | 8/13/2004 | See Source »

...Grand, and someday is supposed to connect all the way from the airport to downtown. Turnberry and CENTRA Properties plan to build a 1.2 million-sq.-ft. outdoor mall near the Mandalay Bay, which will further the invasion of stores such as Saks, Macy's, Neiman Marcus and Nordstrom, now housed at the Fashion Show mall, which is close to finishing a $1 billion renovation. And downtown is building a giant furniture showroom that hopes to steal business from San Francisco and maybe even North Carolina. Mayor Goodman hopes that in the future people will think of Vegas for gambling...

Author: /time Magazine | Title: The Strip Is Back! | 7/26/2004 | See Source »

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