Average luxury prices are
up by 25% since 2019, according to the data company EDITED. But who is going to pay $3,000 on a knit hat shaped like a duck
from Burberry or $24,500 on a vicuña jacket by Brunello Cucinelli?
"In the past year there have been signs that so-called aspirational customers, who buy
entry-level luxury products like cosmetics and spirits, have curbed their spending," per The New York Times. "Middle class professionals who once saved up for a luxury investment handbag or
coat have been aggressively priced out."
Read the whole story at The New York Times »