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":"2152d4ed2758b197b06a242446922bed","s":"d1e4c2b889f40ef5"}
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