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Egg companies made $1.22 billion in profit off a $6 carton — now they’re buying their way out of a price-fixing case with 53 million donated eggs

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Meet the Zillennials: The luckiest micro-generation in the workforce, born between 1993 and 1998

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Even as Elon Musk calls philanthropy ‘very hard,’ every day Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

You Won’t Believe How Much People Are Spending on Hangers

By
Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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January 6, 2016, 10:52 AM ET
Inside Harrods Luxury Department Store
Clothing is seen on branded hangers in the women's fashion outlet of Harrods luxury department store in London, U.K., on Monday, June 24, 2013. Harrods, which has more than 1 million square feet (90,000 square meters) of selling space, isn't concerned about the outlook for spending on luxury goods, Harrods Managing Director Michael Ward said. Photographer: Jason Alden/Bloomberg via Getty ImagesPhotograph by Jason Alden — Bloomberg via Getty Images
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People are spending ludicrous amounts of money on hangers.

“Luxury hangers” are made out of high quality materials, like wood or acrylic, and some are coated in fabric. According to the Wall Street Journal, a pack of 12 hangers can go for $122. There are also specialized products, like the “Luxury Wooden Suit” hanger sold at Kirby Allison’s Hanger Project for $29.95 a piece, or more if you choose to get it engraved. It’s made from premium wood and maintains the suit’s shape by impersonating a man’s shoulders.

These premium hangers supposedly treat clothes much better and extend their life span. They keep them from sliding off onto the floor, losing their shape, and creasing. They also prevent what hanger companies call “shoulder mountains,” which are fabric bunches that form around the shoulders when a garment has been hanging for too long.

With inspiration from outlets like Real Simple magazine and HGTV, consumers have been increasingly interested in having a more aesthetically organized closet space where bottom-of-the-barrel wire hangers just won’t do. Luxury hanger retailers get a boost in sales at this time of year as people make New Years resolutions and commit to becoming more organized.

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By Michal Addady
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