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Luxury Slowing Down

The red-hot luxury retail sector is showing its first signs of a slowdown.

Upscale brands - Giorgio Armani, Hugo Boss, Gucci and Versace - are seeing orders or parts of orders put on hold by retailers nervous about the holiday shopping season, sources said.

"This is the first time I've heard these upper-end vendors getting any push back [on delivery] from retail," one person said.

The upscale brands were not yet seeing orders canceled, but delivery delays only weeks before the busy holiday season could be an ominous sign for the economy.

Until now, luxury goods have been immune to the mortgage meltdown and credit crunch. The Merrill Lynch Luxury & Lifestyle Index is up 11.7 percent this year.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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