While some of the discounters such as Wal-Mart and Target have been fairing well in this economy, the recession has proved to be a bad deal for luxury stores and brands. We saw troubled tales from Saks Fifth Avenue earlier this year and now luxury brand Chanel. The historic French brand is laying off 200 employees from its Paris offices.
http://women.timesonline.co.uk/tol/life_and_style/women/article5415674.ece
