The home â€œpartiesâ€ where friends buy from friends are booming in these tough times. At the head of the pack is Lia Sophia Fashion Jewelry, headed by the son of Victor Kiam. (I liked the shaver so much I bought the company!) Now 27,000 women are peddling fashion costume jewelry and business is running contrary to the retail scene: it's booming.
Implications - Even without the use of real diamonds and gold, products that replicate the illusion of luxury will continue to attract consumers. This can be a cost-effective strategy in producing blinged-out items without the expenses of real jewels that can be manufactured on a large-scale basis to cater to fashionistas everywhere.