People still need treats in challenging times but they're exploring new ways of getting their kicks. That trade-off might be an excellent malt whiskey enjoyed in the comfort of your own home, or a postprandial Cuban cigar. These are small and relatively inexpensive indulgences, which is why Dublin's oldest cigar shop, James Fox, shouldn't suffer too badly in the downturn. A Grafton Street landmark, it's been in business since 1881 and has born witness to many historical events, including the 1916 Rising, which forced the shop to shut for a week. It was recently revamped but still retains many of its traditional elements.

David McGrane, the managing director who has been with the company for 37 years, acknowledges that the tobacco industry has been hit during the last few years, which is why the shop has diversified into complementary products like whiskeys, rums and 'wild geese' wines from France and the new world. Should you desire, you could invest in a 20-year-old Midleton whiskey, which averages about €3,000 to €5,000 a bottle, but in general, a good malt will cost between €85 and €100.

"People are spending more leisure time at home and they'll indulge in the finer things in life. They want quality, not quantity. They might have one cigar a week but it will be a good cigar," McGrane says. The shop, which also stocks a range of gift ideas like hip flasks and wine sets, welcomes a generous amount of American tourists who are in thrall with the romanticism of Cuban cigars, still illegal in the States. Famous faces are often seen here and, fittingly enough, when Bill Clinton was in town, the place was overrun with his entourage. If you like, you can ask the shop to store your cigars for you. One of the new elements of the revamp is state-of-the-art humidors to maintain the perfect environment for them. McGrane, a fountain of knowledge about all things cigar related, says the lifespan of a good Havana cigar, if properly stored, is 15 to 25 years. "You should never stub out a cigar but leave it to go out by itself," he advises. "They say it's out of respect to the person who made it, and most of our cigars here are handmade."

james fox

119 Grafton Street

Dublin 2

Tel: 01 677 0533

www.jjfox.ie