Not so long ago, magazine editors would be moved to write a story about a product simply to showcase its staggering price tag.
"In 2008, people would just invent the $1,000 jean or the $1,000 serum... and editors loved it," recalls Pierce Mattie, CEO of his eponymous firm. "Now we're lucky if a client can sell a pair of jeans over $100. Even Vogue does not want jeans more than $100."
The recession has forced name brands to compete more ...