Hermès

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There's a heady whiff of old money the minute you step into Hermes' plush, wood-paneled confines—quite literally, in fact, since the air carries the faint scent of its signature perfumes. The upscale French retailer is best known for its classic leather handbags; the coveted Kelly and Birkin bags, named for Grace Kelly and Jane Birkin, respectively, can fetch prices that exceed a year's Ivy League tuition. (The bags are emphatically not in stock, but special-ordered, often requiring a two- to three-year wait. Patience is an expensive virtue.) The store also carries a full line of luxurious men’s and women’s clothing, elegant housewares that give a new meaning to domestic art, as well as shoes and accessories, quite a few carry a relatively manageable three-digit price tag. Items like china and cufflinks are frozen behind glass cases, making Hermes feel more as much museum as store; at the lavish four-level Madison Avenue outpost, the top floor does actually house a gallery. — Geeta Dayal