Research
October 16, 2025
While many prestige titans are seeing prolonged skids, others are rising to the occasion. Image credit: Gucci/Anthony Seklaoui
By Zach James
High-end operators are being heavily impacted by macroeconomic factors this year, according to newly released findings.
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","iv":"579127446dc84fa4092adbf7bc8452b8","s":"3d2b7e11a6929eaf"}
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