2/25/2009

The uncertain economy has prompted buyers at London Fashion Week to strike deals with fewer new designers and cut back their spending. "I think we're just being more cautious about the way we spend our money," said Coco Chom, a buyer for British retailer Harvey Nichols. Bain & Co, a business consultancy, is predicting up to a 7% drop in luxury-goods sales worldwide this year.

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