Today's WWD teaches us that because more hedge fund zillionaires are moving into fun old Greenwich, CT, retailers are rushing to set up shop in the town to take advantage of their hedge-wives. What are these women like? WWD turns to jewelry store owner Lisa Moskowitz, who doesn't seem concerned about alienating her clientele: "The women are very dedicated to their children, but spend a great amount of time playing tennis, dining and meeting with their book clubs. They have a lot of money to spend." Yes. Yes, they do. Let's learn more about this wonderful place!
Moskowitz, for one, is kind of shocked-awed by her customers:
"It's consumption, consumption, consumption," she said. "[Customers] don't need an occasion in order to buy something. The only difference is that in Beverly Hills, married women are free to spend unlimited amounts of money. Sometimes in Greenwich the women go through this sort of protocol where they have to get permission from their husbands. It's a quasi-Texas attitude. They have the role of homemaker with a lot of money."There's also a lot of innuendo about how "old" Greenwich was preppy (read: old money, WASPy) while "new" Greenwich is "fashion-conscious" (read: new money, maybe "ethnic"):
Salon owner Warren-Tricomi's Greenwich outpost stays open seven days a week to keep up with the demand for "done" hair. "We have clients who come in daily," said Joel Warren, a partner in the salon. "It sounds a little opulent and over-the-top, but people work hard and make a lot of money and deserve to be taken care of. People like to feel finished. That carefree feeling doesn't exist [in Greenwich]. Carefree hair doesn't go with the lifestyle."Yeah, they're not out on the polo fields—they're getting blow-outs and manicures. And spending a shit-ton of money. One boutique owner, Jennafer Loprchio, told WWD :
"Our average price point is $1,200," she said, adding that there's been no price resistance and expansion may be in the offing.Catering To Billionaires: Hedge Fund Cash Fuels Greenwich Retail Boom [WWD]