Business and Money, Fashionable DC

Luxury Retailing in a Post-Recession Washington

Photo courtesy of
‘Louis Vuitton Dog @ Atatürk Airport’
courtesy of ‘lrumiha’

While within the District and around the region the recession seems to still be felt terribly – the census numbers reported yesterday, for example, which show a marked rise in childhood poverty – other pockets of the metropolitan area are recovering faster. It was reported recently that, for the fourth year in a row, Maryland ranks second in the nation for millionaire households. Virginia holds seventh place in that ranking, and the District tenth. According to Forbes, six suburban counties in our area are among the wealthiest in the country. Loudon County Virginia, the richest in the region is also top in the nation, followed closely by Fairfax County.

Moneyed suburban Virginia – the flushest area within a region with one of the strongest economies in the country – made an appropriate setting, then, for experts to convene on luxury retailing in the post-recession world. The first event of 2010′s All Access Fashion encouraged journalists and marketers to delve into what is meaningful for consumers today. Even if some individuals still have the cash to buy them, how does one – brand or shopper – justify “luxury” goods?
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