Back to School for the Super Rich. Are Gucci Backpacks and Lanvin Furs for Kids or Parents?
Despite the fact that most moms can't afford an 'it' bag of their own, a small sector of high-income earning families from around the world are fueling a luxuryback-to-schoolboom for kids. From a $115 Lanvin pencil case to a pair of $265 Gucci high-tops and even a thousand dollar silk Dior party dress, parents with money to burn are schooling kids on high-fashion before they hit the books. Theaverage parent, by comparison, willspend an estimated $700on back-to-school shopping this year. That's about the cost of one backpack, courtesy of Gucci.