This article is ridiculous –  Wall Street Journal (requires a subscription, so I put a clipping at the end) the WSJ has the most interesting articles on wine. Anyhow, check out the bottom article ‘man buys $700,000.00 of wine in one shot’, basically for anyone in today’s society, if they save a little bit of money or live close to China-Town, almost anyone can get their hands on designer labels. In fact you can get lookalikes that are as good aesthetically as the real things, from Rolex to Tag Heuer, Diesel to Armani, designer labels don’t command the respect they used to. My friend who works for a Hedge Fund in New York (he’s the one I drank Zinfandel with in Central Park) says that most of the hedge fund managers (these guys are like 26, they worked for Goldman Sachs or Lehman Group for 4 years after going to Wharton, and then started managing their own funds, they’re all , intelligent, self-made and loaded and 3 years away from being 30) don’t use any brands. Its all about going back to the roots, they purchase antique solid gold watches and get their furniture at Sotheby’s.Capitalism has made luxury brands so accessible, that the only thing left for people to do if they want to stand above is to go backwards. These guys are looking for unique and rare… and they’re not a minority. Practically any male or female over 25 with a graduate degree in commerce (usually capped by an MBA) that works in LA, New York, San Francisco, Atlanta or Boston fit into the group. You don’t need any knowledge to purchase a label, you just need to be a sucker for advertising on the front pages of any glossy. Designer brands are passe. Wine is the new bling. (more…)