Luxury Brands Slash Prices to Entice Middle-Income Buyers

With the high cost of maintaining a luxury brand, key players are making major decisions, changing the way they operate to navigate the current challenging economic climate. Luxury brand Burberry, for instance, is gearing up to cut hundreds of jobs amid ongoing financial challenges, per...

Luxury brands in China are reportedly resorting to “unprecedented” discounts to sell unsold inventory and entice cautious Chinese consumers. The price cuts reflect growing concerns over a slowdown in spending among local shoppers, Bloomberg reported Friday (June 14). Balenciaga, a part of French luxury conglomerate...

Inflation-pressured consumers tend to cut back on their luxury purchases.  At least, that’s what PYMNTS Intelligence data has found. However, the demand for Richemont’s jewelry brands like Cartier and Van Cleef tells a different story, with the company experiencing a bump during the most recent...

There was a time last year when we heard luxury retailers say that the slowdown they were experiencing was a sign of “normalization,” but now they are warning that profits are continuing down. So, is this truly “normalization” or just inflation at its finest?  Read...