A Picture is Worth...Recessionista's DIY Chanel Bag

Photo credit: Jak and Jil

The economic caldera we're still digging ourselves up from under has put a whole new spin on the definition of "luxury." (This fall's New York Fashion Week will be an eye-opener for sure.) With consumer spending in the hole, and chi-chi brands like Hermes tightening their croc-skin belts, we might be witnessing the end of luxury goods as we know them. What does a brand, in the end, boil down to? A used paper bag, some talent with a Sharpie, and a link chain. Karl, who?

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