The Panties are Dropping!

From the San Diego Union Tribune: High-end goods feeling low.

On La Jolla's trendy Girard Avenue, the era of $75 lace panties is coming to an end.

Since opening in 1993, Neroli Lingerie has been supplying the finest European undergarments – with prices as eyebrow-raising as some of the steamy designs – to residents and tourists in the wealthy resort community.

Now Neroli's owner, Ceslie Rossi, is closing shop because sales no longer support the 1,200-square-foot boutique's $7,000-per-month rent.

“It's been touch-and-go for a year now, and then in September the bottom fell out – no one was spending,” said Rossi, who this month liquidated her lingerie inventory in a going-out-of-business sale. “I can't handle the stress anymore. When my art-gallery neighbor sells one painting for $20,000, they are OK, but panties – even expensive panties – is another matter.”

Looks like the "bottom" dropped out of the panty market!