Says Sarah Mower in Style.com:

Nothing at Lanvin ever comes at less than top price. In a tanking economy, that would seem to contradict Elbaz's stated aim to embrace "realism" and the generality of women's daily concerns. It all depends, though, how pennies are counted, how long clothes can be worn, and whether they're destined to be made obsolete by fashion within six months. With this collection, Elbaz deliberately built a defense against that lack of confidence, going back to re-do pieces (like the raw-edged charmeuse dresses) he first came up with five years ago. His message: What was good then is just as good now, and what's bought now can have just as much value years hence. In a year when all other financial investments look like a joke, a Lanvin one is as rock-solidly trustworthy as fashion can be.

Hurrah! It sounds like rationalizing, but we totally believe it. Even if we can't afford it. We can still believe.