Is luxury goods industry failing? or is it something else? ...Middle East

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Is luxury goods industry failing? or is it something else?
Every few months (and recently even more often), a new wave of headlines proclaims the “end of luxury.” Supposedly, the new generation doesn’t want to carry Vuitton monograms, buy Hermès, slip into Gucci loafers, or line up for Chanel bags. The argument goes that legacy luxury is outdated, that Gen Z is too practical, too purpose-driven, too minimalist.

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