Valentino Sells VIP Perks With Handbags Amid Slowdown

Store openings of big luxury brands are typically glitzy events reserved for celebrities and press. When Valentino, the Italian maker of cocktail dresses, A-line skirts and $445 espadrilles, opens its next boutique in New York, the company plans to invite regular people to rub elbows with the stars -- if they’re willing to pay for the experience.

Like many of its peers, Valentino has discovered that $2,195 handbags and to-die-for pumps are no longer enough to keep sales growing. Instead, these companies are starting to offer experiences alongside their wares, expecting that customers who have visited a workshop or met the designer will develop stronger ties to the brand and buy more goods.