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Slower Bags, Silent Stills: What Is Happening to Luxury?
Louis Vuitton’s entry-level Neverfull went from about $575 in 2007 to $2,030 in 2022, while Scotland’s distilleries filled casks that take years to sell. LVMH shares now sit about 57% below their 2023 high, and Diageo’s have lost more than half. Customers are no longer saying no, only not yet.