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Where has the aspirational luxury consumer gone?
This audio is auto-generated. Please let us know if you have feedback . Sales in the luxury sector are slowing as the economy cuts off less wealthy, more aspirational customers. The softness seen this year is expected to persist, at least in the near term, at most of the high-end names, according to a client note from HSBC Global Investment Research. Cartier owner Richemont, where Q3 organic sales are expected to grow 13% year on year, is an outlier. Overall Q3 organic sales
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