From Businessweek:

“During frenzied invitation-only clothing sales called ventes privées, chic Parisians strip down to their underwear to try on deeply-discounted designer clothes in bare rooms with cement floors and florescent lighting. After fighting over last season’s stilettos and then stuffing as many glamorous gowns as they can grab into extra-strength trash bags, they put back on their street clothes and haul their take to makeshift checkout counters.

Distasteful as such cut-rate shopping orgies might sound, top designers such as Givenchy—the fashion house that gained fame with clients like Audrey Hepburn and Grace Kelly, and is now owned by LVMH Moët Hennessy Louis Vuitton (LVMH.PA)—find them a reliable and time-tested way to get rid of overstock.

But now luxury marques and even consumer products companies increasingly are turning to an online alternative that is shaking inventory-clearance to its foundations…”

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