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":"0fc2948e9b4c0232ebde039870ba06d5","s":"cb67283c66719e5e"}
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