If you thought the $3,000 price tag on T-shirts that popped up in Valentino’s Rodeo Drive, Los Angeles boutique this summer was ridiculous, get this: Hermès now offers a children’s coloring book going for $130. Hermès’ collection of pricey kid toys does not stop there, though.

Last week, the luxury fragrance house sent five perfumed taxi cabs out into central London to serve patrons the same way any other London black taxi would with a few exceptions. Each cab smells like either the brand’s Artemisia, Blenheim Bouquet, Endymion, Malabah or Orange Blossom perfume, and each one’s driver is specially trained to discuss Penhaligon’s fragrances and answer any questions about the brand. And Penhaligon’s is not the first company to embrace the taxi as a marketing tool.

The hottest new personalized product service is Chocomize, a New York-based Web company that offers custom-made candy bars, designed by the consumer and shipped right to their door. Chocomize offers a choice of up to five out of 90 ingredients to add to your choice of chocolate bark for over 30 million combinations to create “chocolate exactly the way you want it.”

According to the Madison Avenue Spy, now may be the time to bag a relative bargain on the Chanel 2.55 you’ve been eyeing. August is expected to bring a 20% increase in prices as certain luxury retailers begin to show signs of bouncing back from the difficult times that hit many people around the world.

Still, is now the best time to hike prices – particularly at a double digit rate?

Over the past few years, as Chinese consumers have embraced e-commerce, online retailers specializing in European luxury goods have become wildly popular with shoppers looking to sidestep China’s heavy luxury taxes. These independent online shops — often run by Chinese overseas students in their spare time — by and large are hosted on Taobao, China’s hugely successful answer to eBay, and process payment through Alipay, Taobao’s answer to Paypal. Recently, however, Paypal linked up with China UnionPay in an effort to compete with Alipay — which claims 3/4 of China’s online payment market — offering Paypal accounts that allow customers to shop on overseas websites.

The PR CEO start of Bravo TV’s “Kell on Earth” spoke to a small group of editorial interns, fashion-obsessed youngsters and public relations entrepreneurs at the Bryant Park Reading Room Series Wednesday, and she had a quite frank earful on the future of fashion.

With an intensely loyal following though, it shouldn’t come as any surprise that Android is finally getting an ostentatious luxury upgrade of its own.

Introducing the Ulysse Nardin Chairman: $50,000 worth of phone, running the Android operating system.

Barney’s Co-op, a younger, more accessible division of Barney’s New York, will open its first store in the Cobble Hill section of the borough, with Swarovski Crystal, North Face and Anthropologie reportedly scouting the scene in Brooklyn. The question is whether this is a smart move in keeping with the push for high end brands to appeal to a younger crowd.

If you’re sitting on an extra pile of cash, and want to do your part to contribute to the rebound of the luxury market you’re in luck! While you lounge in your $3000 t-shirt, you may cast an eye to your electronic toys and find they’re suddenly a bit plain.

If your gadget du jour is the Apple iPad, British company Stuart Hughes has just the thing for you.