Ecommerce: Will (more) luxury brands move online?

BusinessWeek story today about how brick and mortar retailers serving the midde price points are getting squeezed by low-end value merchants on one side and luxury brands on the other. Quote: ” No retail sector is more squeezed from both sides than the department-store chains, most of which continue to lose sales to other retailers.”
(In other words, Target jeans look great with that Gucci bag.)
This makes me wonder how the online luxury goods market is evolving?
I’d like to think that there’s demonstrated growth in this online sector, especially around clothing and home, but haven’t gone digging for the stats yet–after Christmas the data should be in.