Editorials
March 13, 2026
Brunello Cucinelli store on Sloane Street in London's Knightsbridge. Image credit: William Barton, Shutterstock
By Mickey Alam Khan
For years we’ve heard that the term “luxury” doesn’t stand for what it was intended: exclusive, rare, high quality. Many folks want to dump the word but have no substitute. In reality, luxury has undergone a silent divergence, with three camps catering to distinct audiences.
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","iv":"c26459b8591bb7282a55250df110854a","s":"8b3f4b9fceaddea7"}
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