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Lap of Luxury

With children making up one of the hottest markets around, why not start your own upscale children's product company?

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This story appears in the December 2000 issue of Entrepreneurs Start-Ups magazine.

Would you pay upwards of $87 for a hand-knit sweater? How about a really small one likely to be smeared with grape juice and chocolate pudding? You'd be surprised how many people will. If you don't have kids of your own, maybe you haven't caught on to the explosive market surrounding high-end children's products and accessories. Parents, grandparents and friends of the family are demanding hand-crafted, hand-painted furniture; tailor-made, brand-name clothing; and beautiful toys and decorative items for children. And savvy retailers are lining up to provide these luxury shoppers with a satisfying retail experience.

Marketing consultant Leslie Speidel points out that baby boomers are getting older, and many of them are excited grandparents or first-time parents. The disposable income of this demographic is huge, especially for those over 55. "The extravagance is beyond homes and cars," she says. "They're putting status into everything they have."

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