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Woman with facemask

Luxury in a Post-Covid World

Letting no crisis go to waste, the MBB big-three consulting firms – McKinsey & Company, Boston Consulting Group, and Bain & Company – have all come out with their post-coronavirus predictions for the luxury market. I’ve spent hours digesting their reports, including interviewing Bain’s Claudia D’Aprizio, who is arguably the world’s leading authority on the […]

RH Store, Denver, CO

Gary Friedman Aims to Make RH More Luxury, But Can His Dream Become Reality?

In a recent conversation with fellow Forbes.com contributor Steve Dennis, our wide-ranging discussion turned to RH, the company formerly known as Restoration Hardware. “I was at a conference where Gary Friedman talked about these new gallery stores that hadn’t opened yet. And I thought he was crazy,” Dennis said. I had much the same feeling […]

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Shanghai, China

All Eyes Are on China for Luxury’s Recovery, But Future Success There Is Not Guaranteed

Since the 2008/2009 recession, China has effectively become the tail that wags the dog of the global luxury market. That’s because China was largely unaffected by the economic downturn that battered the market throughout the rest of the world. Not only that, Chinese consumers, with their growing economic power, expressed a heady appetite for luxury […]

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Neiman Marcus Hudson Yard's

Neiman Marcus Bankruptcy: More than Debt and Coronavirus to Blame

Recently, Neiman Marcus did the inevitable and filed for Chapter 11 bankruptcy in an effort to put $4 billion of its existing $5.1 billion debt behind it and restructure for the “new normal” after COVID-19. Under the new agreement, the Neiman Marcus Group has secured debtor-in-possession of $675 million financing to continue operating through the […]

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Wellbeing

Coronavirus Will Make Wellbeing the New Luxury Trend of the Future

The coronavirus shutdown has forced a reset to consumers’ purchasing behavior across the globe and at every income level. In a blink of the eye, consumer spending shifted from discretionary to necessity purchases and has remained that way throughout the months of the shutdowns. With luxury being the most discretionary of all consumer purchases, it […]

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