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Paris fashions – 70% reductions

Economic growth
By Paul Hodges on 09-Jul-2008

I’m rather surprised my fellow blogger Barbara has missed this story. Still, it shows us commercial types have a life, too.

Bloomberg reports that the economic downturn has caused major cuts in the prices of ‘shoes, bags and dresses’ during the current Paris fashion sales. France’s biggest department stores, Au Printemps and Galeries Lafayette are offering discounts of 50% to attract shoppers. Whilst smaller stores including Jonak and Maje have cut prices by 70%.

The reason, of course, is the slowing economy, and declining consumer confidence. But as the photo shows, the Grand Sale has brought the shoppers back after a very weak June. Bargains apparently include dress heels with silver straps selling for €49, down from €149.99. I’m not sure what they are, but it sounds like a bargain.