Luxury Brands Face Sales Plunge After Aggressive Price Hikes
European and American luxury brands that significantly raised prices when consumers’ wallets were fullest are now facing the harsh reality of plummeting sales. Dior and Chanel have seen staggering declines, while Hermès and Richemont, which were more restrained in their price increases, continue to enjoy robust growth. Those brands that aggressively hiked prices during peak […]
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