Where Cachet is Worth More Than Cash

Posted by Lauren Proctor on September 4, 2009

With the luxury sector in a worldwide free fall, some might find the alleged interest of Canadian billionaire Galen Weston in acquiring the storied Barneys New York retail chain a bit puzzling. But in the rarefied world of high-end retailing, the cachet of owning big luxury brands is almost more important than their actual business performance, industry observers say. (Financial Post)

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