Luxury brands are apparently losing a specific clientele, to which many are calling aspirational clients. Furthermore, some are alleging that more affordable brands like Coach and Tory Burch are gaining from this. This, coupled with the quality decline of major fashion houses appear to be affecting them.
Luxury brands allegedly reducing prices silently
Furthermore, a luxury YouTuber, Super Dacob has made some observations regarding the situation. There was an alleged price decrease on certain Prada items. These items were reduced by at least RM500-RM1000.
Regardless, in Malaysia and Singapore, it seems that these brands are still doing relatively well as there are long queues outside of their stores.
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