Blinging up baby
They're fussy, pampered, and growing fast. No wonder toddlers are the favorite new target of luxury-goods marketers.
(Business 2.0 Magazine) - Pink leather Gucci shoes for $230. Louis Vuitton bags priced at $1,240. A $475 Hermes bathrobe. That's not a preview of fall runway fashions but a sample of new products available for babies. Yes, babies.
Couples waiting longer to start families have more discretionary income to spend on their offspring. Combine that with the recent boom in luxury products, and babies are a big opportunity for high-end brands. According to research firm Mintel International, consumers last year spent $445 billion overall on luxury goods, a 30 percent increase since 2000, and not all of it was for Mom and Dad. Sales of high-end products for babies grew an estimated 20 percent last year -- five times faster than the total $24 billion infant and preschool goods industry.
Click here for a photo gallery of just a few of the items aimed at the burgeoning boom.
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From the March 1, 2006 issue