In Forbes, BCG’s Filippo Bianchi explores the reasons behind the personal luxury market’s recent lack of growth. Drawing on findings from BCG and Altagamma’s latest report, Bianchi observes that the industry’s recent push to democratize luxury has come with costs: “In a race for scale, some of the soul of luxury was lost.” To succeed in the future, he explains that “brands must refocus on top-tier clients and return to the fundamentals of what true luxury really means.”
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Forbes