Luxury retail has become a victim of the current economic turmoil. The Wall Street Journal reports this morning that even those luxury brands that have recently branched out with more affordable lines are taking a hit as consumers simply don't have as much disposable income as they used to--and simply aren't disposed to spending that which they might have.

In fact, luxury giant Louis Vuitton raised by 5 percent yesterday the price of its handbags in the U.S.  read more »