15. Department Stores

15. Department Stores

Perhaps this category should really be 'some' department stores, because we hear very different stories from different Main Street brands. Macy's and Sears have been hammered almost to the point of extinction by a downturn in sales, with even Kmart under increasing financial pressure to stay afloat. Millennials are still buying clothes - it's not like they're walking around naked - they're just not buying them from department stores.

The average Millennial is more likely to spend money on an experience than a brand. If they can afford to go on a luxury vacation by saving money on designer clothing, they'll do it. They're not as attracted by big-name brands as previous generations have been, and are happy wearing private labels, or picking up discount clothes from Zara or H&M. Putting a high-fashion label on the same t-shirt you can buy for half the price at H&M without the label no longer works.

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Did You Know...

I

To insure one’s house, one’s car or to underwrite a life insurance policy, that is common practice. But who would pay an insurance premium for his/her thumb, legs or smile? Stars, of course.

II

At the top of the ranking are the legs of Mariah Carey, worth 810 million USD: The diva became, in 2006, the Gillette brand muse for the advertising campaign «Legs of a Goddess». She then took out an insurance policy with London Lloyds to protect her legs, a decision that is far from being insignificant. Among its customers, the London insurer then included several icons of music, such as Bob Dylan or Rod Stewart.

III

David Beckham’s body insured for 195 million USD: European champion with Manchester United in 1999, David Beckham was in 2006 the most renowned footballer of the planet. In relation to his sporting activities, he took out an insurance cover for his legs. The huge amount paid for his insurance would reportedly exceed the 103 million USD disbursed by Real Madrid for the cover of Christiano Ronaldo in 2009. The fashion model would later extend his insurance cover to his entire body.

IV

15 million USD in insurance for Kim Kardashian’s curves: The curves of Kim Kardashian are her number one beauty asset. The reality TV star, who is crazy about plastic surgery, has underwritten an insurance policy worth 15 million USD to protect her famous butt.

V

The culinary critic Egon Ronay assured his taste buds: The famous Hungarian culinary critic has insured his taste buds since 1957, for the amount of 400 000 USD. An original insurance policy which allows him to cover his sense of taste without which he will no longer be able to practice his job.

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