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":"424e25442a4a893c48106f862942aad9","s":"73e92f30f20922c6"}
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