Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
Our sister site Curbed NY has an item today about Valentino president Giancarlo Giammetti's New York apartment—which is currently listed for sale and whose price has just been slashed by about $2 million. Yup, million. "Giammetti relisted the apartment—which has access to hotel services—for $12.5 million nearly a year ago. But even the cerused oak walls haven't sold the place at that price, and it's now 14 percent cheaper." [Curbed NY]