Mid-range luxury brands survive during periods of fashion downturn
Ultra-luxury brands are losing their luster, while mid-range competitors are profiting from it. Industry leader LVMH Moët Hennessy Louis Vuitton SE reported that its latest quarterly sales fell short of expectations and was accused of pricing a Dior bag at $2,800, while its cost was only $60. Meanwhile, Tapestry Inc.'s Coach has captured the spotlight with its $495 Tabby bag—this popular bag costs only a fraction of similar shoulder bags from Dior or Chanel
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