I know what you’re thinking (and many consumer advocacy groups agree): luxury brands are swimming in money, why should we care if they lose a little money? Not to mention the fact that we all love a good deal. But the first point isn’t entirely true, nor does the sale of these goods only affect the higher-ups at a company.
For starters, luxury sales have actually taken a hit as of late, as Business of Fashion has pointed out. This is due to a “drop in global tourist traffic due to recent terrorist attacks, slower economic growth in China, and record low oil prices [which] have dented the purchasing power of important luxury buyers from Russia and the Middle East.”
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