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The fusty symbol of old-world elegance (those steamer trunks!) has been reborn as a flashy, sizzling label that fairly screams new money. The leather is quality, no doubt, but those special-edition bags (by Sprouse, by Murakami) are, let's face it, ridiculous. As for the clothes: Did you know Louis Vuitton made clothes? You can't get those on Canal Street.