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
power.

You May Also Like