Gucci

Luxury goods that put profits before prestige in a slowdown risk long-term brand damage

by Jemima Bokaie Marketing 07-May-08, 08:45

LONDON - Once the preserve only of the rich, luxury is now reliant on a wide range of consumers, leaving the sector more exposed during a recession.

As consumers tighten their purse strings, luxury brands face a quandary: lower people's expectations to retain profit, or, as some experts suggest, preserve their Uber-premium status, thereby reducing the risk...

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