By LAWRENCE TAN

While luxury brands are losing some of their glitter amongst Japanese shoppers amidst the tough economic climate, a traditional Japanese ornament has stood the test of these difficult times.

Known as Hina dolls, these traditional Japanese doll sets, which can cost anywhere between $2,000 and up to $50,000, are still being snapped up by Japanese parents, who typically buy these dolls for their daughters, according to a report in Reuters.

Every year on March 3, Japan celebrates the Doll Festival, and it is during this festivity that girls would show off their Hina dolls, which are usually dressed in ancient Japanese imperial garb, and arranged on a staircase-like platform, complete with miniature furnishings.

The Japan Dolls Association told Reuters that unofficial estimated annual sales of these Hina dolls could total 57 billion yen ($590 million).

Yoshitoku, which claims to be the oldest store in Tokyo, having opened its doors since 1711, sells Hina dolls for about 200,000 yen ($2,070) each.

"The most expensive ones we sold this year were 5 million yen ($50,890)," said Masaru Aoki, an official at Yoshitoku.

via Reuters