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":"4a792129647a58790e4d50d61a7b351c","s":"e7dae08ab91e0084"}
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