In another glaring sign of the world recession, CHANEL, one of the grandest French fashion names, is to lay off 200 Paris staff. Until recently, luxury brands such as Chanel were claiming immunity from the slump. Demand for the high end was holding up, driven by the nouveaux riches of Russia, China and other emerging powers, they said.  But that denial has since faded with empty boutiques during the usually busy Christmas season.

In another sign of hard times, LVMH, the world's biggest luxury conglomerate, has cancelled a plan for a Louis Vuitton megastore in Tokyo's Ginza district. LVMH has lost 44 per cent of its share value this year. Yikes!

In the economic downturn, the luxury goods sector will be focusing less on exclusive trophies and more on reason, decency and discretion. I wonder how that will affect their price points? probably not much.

The Louis Vuitton Spring 2009 collection was one of the most accessorized and out of all the impressive bags, shoes, and assorted baubles it was the earrings that caught our eyes. Now we are science fiction nuts so this just might be us but don't they remind you a little of a solar system model? Now this is a way to inspire scientific literacy among young women.