Business: The New Luxury Market

What kind of market awaits U.S. retailers in the 1960s? A luxury market, bigger and fancier than anyone dreamed possible a few years ago, says Andrew Goodman, 52, boss of Manhattan's elegant Bergdorf Goodman specialty store. Said Goodman, in a speech to the Garment Salesmen's Guild in Manhattan last week: "No longer is good taste the exclusive property of the few or the rich. During the next decade, price will cease to be the major criterion for larger and larger sections of the population. The new criterion will be style and taste.

"People who five years ago did not know the difference...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!