One of our three key trends for 2007 is the concept of luxury going mainstream. No longer is it the case where just a privileged few carry Coach handbags at NYU or UCLA or some other fashion epicenter. You'll see those same $200 and $300 handbags carried by young women at the University of Oklahoma or Ohio State. And it doesn't stop there. You'll see it in premium denim purchases and other apparel purchases as well as prestige beauty and cosmetic products. Brands once reserved for 25-34 or 25-49 year old women are being scooped up by 17 to 24 year old women in droves. So, it should come as no surprise to see that the retailers that fared the best this past holiday season were the luxury retailers lead by Nordstrom. Where do you think all that extra growth came from? Gen Y, of course, or most precisely, the parent's of Gen Y purchasing for them.