Desperate Times Call for $43K Suit

Considering we have a national blood lust for robotic asshat John Thain and his magical $87,000 area rug, Citibank and its new $50 million private jet, and of course for Bernie Madoff's bilking binge, it's a wonder more people don't put heat on other sectors of excess like, say, certain fashion houses. Specifically Brioni, as it introduces the most expensive line of suits in history. Brioni Vanquish II suits are made to measure, woven from rare fibers including vicuna, pashmina and Qiviuk, and fetch around $43,000. "The timing was not fortunate for us," says Andrea Perrone, Brioni's co-chief executive.

The orders were already in, though, and Perrone decided to go ahead, “figuring it would send a reassuring signal to customers that Brioni was refusing to compromise on “high-quality initiatives."” A rep at consulting firm Bain & Co said very wealthy people may not be buying as much as they used to, but they aren’t reducing their standard of living. There are plenty of luxury goods brands rolling out over-the-top items. Hermès has its $2,800 limited-edition silk scarves; Van Cleef & Arpels’ jewelry line Les Jardins has pieces that cost $2.5 million. Kiton is awaiting its new $8,125 cashmere-and-vicuna sport coat any day now. Who buys these $43,000 suits? About 30 people so far have stepped up, and they are the “elite of the elite,” Perrone said.