Luxury brands spent decades turning design, aspiration, and high-quality goods into a
$380 billion global behemoth. The coronavirus pandemic changed it all in a few short
months. Sales have plummeted, leading to forecasts for a precipitous decline in 2020
revenue and massive uncertainty about the ability of many brands to rebound. The
long-term impact of the crisis on brands will be just as dramatic, accelerating shifts in
consumption and consumer preferences that will upset the existing equilibrium of

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