Saturday, August 23, 2008

Oil slick

Just as daffodils are the harbingers of Spring, yellow Lamborghinis prowling the high streets of London are the harbingers of high-octane shopping season in the City. Forget cheapy Paris Hilton, or even blingtastic Victoria Beckham. Come mid August, heirs and heiresses of the wealthiest Middle Eastern oil magnates descend upon London in drones, raring to burn some real cash. Posh and Paris look ratty in comparison (well, they're ratty in general, but that's not the point...).  Imeldific? Sorry, Tita Meldy, not even you come close. Harrods, Selfridges, and all the toniest boutiques in London swell with flocks of glittering, veiled ladies snapping up gems with determined ferocity. 

During the last two weeks of August, all of Europe goes away on vacation, and what feels like the entire (wealthy) population of the Middle East drifts toward London. Walking through Knightsbridge on a Saturday evening is like walking across a busy, congested shopping strip in Dubai. 

Why do oil heirs and heiresses choose to shop in rusty, old London when designer boutiques and high end malls in cities across the Middle East (and America) are probably better stocked and much more luxurious? Conversation drifted in this direction during dinner with friends at a cozy, candlelit brasserie in Chelsea. One contemplative friend pointed out that the shopping itself wasn't the end goal. It's a change of scene they're after. "I mean, so what if they can get the same things back home?" he said, between bites of grilled skate. "What's a flight to London and the extra expense? They're loaded, so the added cost is nothing to them." "Yeah," grunted another, less diplomatic companion. "They ooze money." 

So, I guess the equivalent would be ordering a P1000 adobo at, oh, any fancy Filipino restaurant in Manila, instead of having it at a street stall. Adobo is adobo, but if you're willing to drop P1000 for something you know you can get cheaper, then the difference probably doesn't mean much. In other words, they burn cash in London simply because they can. 

Scary stuff.

Christian Louboutin flip flops. Yours for only £250.

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