Ultra-luxury is losing its luster — and mid-tier competitors are capitalizing.
Industry bellwether LVMH Moët Hennessy Louis Vuitton SE, which reported weaker-than-expected sales in the latest quarter, was accused of selling a Dior bag that costs about $60 to make for $2,800. Meanwhile, Tapestry Inc.’s Coach is cashing in on cool with its $495 Tabby bag — a viral hit that costs a fraction of a similar shoulder bag from Dior or Chanel.
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