It seems that the economy is going on a downturn as luxury brands like Celine and Prada are now reducing their prices. We will have to wait and see what other brands are going forward with a price reduction. Furthermore, the luxury designer fashion segment in Malaysia is rather slow in terms of sales, but it does not apply to all brands.
Prada reducing handbag prices
A popular fashion TikToker, @itscelesta noticed that a specific crystal Prada handbag has reduced in price rather significantly. She states that the prices of these bags have dropped by $350, or RM1,600. Commenters state that they hope to see more price reductions as the prices are ridiculous at this point.
We speculate that another less popular luxury brand similar to Prada and Celine will reduce their prices as well. Brands like Versace and Fendi are selling their items with massive discounts at outlets like Johor Premium Outlets. However, it is duly noted that brands like Chanel and Hermes would probably maintain their high prices until further notice.