Who pays $1,200 for a handbag, and WHY?

The New York Times asked this question today. As it turns out the woman is usually under 40 and earns from $50,000 to $75,000 a year. I will have to admit those marketing folks do know their audience -but this is a ton of money for an accessory. They went on to say that the women tend to sacrifice vacations, restaurant dinners and other designer fashions-when do you get to show this baby off? I would feel a lot better if these purchases were being made from dividend checks from portfolios…but i’m thinking that’s not the case! Coach inc (COH) is approaching its 52 week high so a lot of people are feeling prosperous, but are they building cash flow? Have a great evening.

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