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Agenda-setting intelligence, analysis and advice for the global fashion community.

Is Luxury Recession-Proof?

With the risk of global downturn rising by the day, the fate of luxury brands depends heavily on their positioning, writes Pierre Mallevays.
A Louis Vuitton pop-up store in Shanghai, China.
A Louis Vuitton pop-up store in Shanghai, China. (Getty Images)

The global economy is sailing into a perfect storm: Europe is grappling with Russia’s invasion of Ukraine and the implications for energy imports; China’s pursuit of “zero-Covid” is plunging cities like Shanghai into strict lockdowns; and the United States is staring down the barrel of the highest inflation rates in 40 years. The risk of a synchronised global downturn is rising by the day.

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