But Who Will Buy the Handbags?

20th May, 2016

In Texas EVERYTHING is bigger. But in the middle of the desert a Prada store sits solemnly silent – waiting for someone to buy a handbag

If you ever wanted to see a blatant example of how the economic drivers impact society and the property market, you only need to visit Texas.

Texas finally made it to the big time in 1901 when the Lucas No. 1 well spewed mud, gas and oil more than 100 feet into the air marking the start of the BIGGEST of oil booms. The Texas Oil BOOM!

Everything is BIGER in Texas – known for its Massive BBQ Ribs, 10 gallon hats and where the law is enforced by “Rangers” clad in cowboy boots!

But in the middle of the Chihuahuan desert lies an eerily silent sight.

A monument to our hectic consumerism lifestyle. A perfectly kept, perfectly stocked Prada Store.

Located 42km northwest of the city Marfa just off Highway 90 this store was built in 2005.

But there is nothing around it. NOTHING!

• No other shops.
• No houses.
• No businesses.
• No amenities at all.
• And NO Customers.

This store sits solemnly silent, the only noise is the hum of the lights that luminate the store during the night.

The odd traveller will stop to marvel at this sight – a lonely Prada store, literally in the middle of the desert…..

The store is a “pop architectural land art project,” the brainchild of Berlin-based artistic team Elmgreen and Dragset. But it highlights how our economy needs the interaction of the economic drivers to function. Located in busy Pitt Street, this store would be crammed with customers browsing and buying Prada’s iconic items.

But in the middle of the desert, without these drivers working together, there can be

• No sales.
• No productivity gains.
• No increase in profitability.
• No capitalisation of this profit into higher asset prices.

Without our drivers, all we have is a brightly lit Prada store in the middle of the desert.

With no one to buy the handbags……