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Trump Tax Reform Won’t Boost Luxury Brands

US president Trump’s tax reforms have been widely portrayed as favouring the wealthy, in which case Europe’s luxury giants should benefit. Not so, argues Luca Solca.
Donald Trump | Source: Shutterstock
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  • Luca Solca

Income inequality is luxury’s best friend. Indeed, dynamics which elevate some but not others, goes hand-in-hand with luxury market growth. Flush with cash, people who get richer purchase designer handbags and flashy cars to confirm and communicate their freshly acquired status.

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