Business: Haute Couture

(See front cover)

From Paris, last week, came reports of feverish activity around the Place Vendôme and, particularly, along that brief but important, severe but incredibly expensive street known as the Rue de la Paix. Crowds milled about sternly-guarded doorways; ultra-fashionable women sought admission as to the most coveted box at the Opera; Parisian celebrities entered with an air of triumph, emerged with subdued cries of "Oh!" and "Ah!"

To the Parisian, even to the accustomed tourist, the mêlée in the Rue de la Paix was not unfamiliar. Similar scenes had been observable just...