The luxury market is crumbling, and up to an 111% increase on handbags isn’t helping.
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Louis Vuitton, Gucci, Chanel, and more luxury brands are seeing a widespread decline in sales in two critical markets: the United States and China. These brands have a long history of expensive luxury goods, but sales volumes show that people aren’t as interested in buying them today. So why not? In this video, we dive into the world of designer fashion and luxury handbags, to find a few clear reasons as to what went wrong and why the downward spiral of these brands was largely avoidable.
Editor’s Note: At 0:00, the video shows Chanel’s Classic Flap bag instead of Chanel’s 2.55 leather flap bag. The Hustle regrets the error.
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