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Tuesday, 22nd November 2005 (5770 views)

Wal-Mart has begun selling $10,000 18-carat gold rings, prompting questions over the future direction of the US luxury goods market.

As reported in the New York Times, the ring is one of a host of luxury goods to have emerged on the mass retailer's website as it begins courting upscale shoppers.

The 1.75 carat diamond ring contains a yellow grade centre framed by white diamonds and retails for $9,988.

Some commentators have questioned whether the Tiffany's crowd are likely to consider Wal-Mart as they gear up for their yuletide shopping spree.

But Wal-Mart must be confident its strategy is a winner as the giant is now offering a number of luxury items not normally associated with budget retail.

Wal-Mart is now selling a $7,688 Hyundai plasma TV and a $248 basket of fine chocolates – alongside more standard items such as cut-price boxer shorts and cheap jewellery.

Walmart is not the only mass retailer invading the fine jewellery segment. Household goods and food retailer Costco is now offering a $13,500 18-carat gold men's watch from Cartier.

 

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