Are luxury brands losing popularity?

[EbonyWood]

I’m reading the news of Farfetch being sold, Matches looking likely to be acquired to some degree and reading people’s comments and reactions.

Most people are saying that luxury Ecom is dead, they don’t care to buy luxury fashion anymore and they want to buy less.

Everywhere I see, luxury companies are closing stores, seem to be struggling, discounting a lot. What’s happening? I know lots of people are really struggling right now. But, the rich always seem to stay rich and be able to afford luxury items.

Is everyone just done with buying stuff, luxury or not?

I know this thread is a few months old - but the news of Matches closing!? What! So so very sad

Me too. I’m willing to pay for really good quality leather and design. I also want a bag that will last longer than a cheaper alternative.

but I don’t think the quality is there. Some of the bags I’ve looked at are around 2k but don’t feel particularly special.