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The democratisation of knowledge and client power through social media has performed an enormous half in this. Platforms like TikTok and Reddit are filled with conversations that challenge the industry’s worth proposition, which has made it a lot more durable for luxury manufacturers to regulate their narrative. Recent sales figures underline simply how far demand for luxury mega-brands has fallen from its post-pandemic highs. In July, a few of the industry’s biggest players reported disappointing revenues for the second consecutive quarter.
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