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It's going to be interesting to see how/whether pure luxury clothing retailers do in the recession.

From talking to a few people, I rather suspect they'll survive fine with only a moderating of turnover. The only that will really suffer will be those in the "near-luxury" segment, who will become heavily dependent on massive discounting to maintain sales.

Kiton will be fine, though if there's a boutique nearby, the logic of having a concession in Saks is slightly questionable. I guess there's the advantage of the higher footfall traffic through Saks leading to referrals to the boutique when the Saks concession doesn't have the relevant item in stock.
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