Wait til you hear this. Twins Mary-Kate and Ashley Olsen have a line of of handbags that includes a $39,000 crocodile backpack. The question is, are luxury consumers ready to spend that big again? The Olsen twins may actually be right on the mark in reading the luxury recovery. A recent survey by American Express Publishing and the Harrison Group forecasts that spending on luxury goods will increase by nearly 8 percent to $359 billion this year compared to 2010. Thread/New York
