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Luxury retail under threat

Luxury has come to a crossroads. What once was exclusive and in high demand is now regularly discounted. And brands aren’t too happy about it. Burberry recently ousted its CEO and appointed Marco Gobbetti because sales are projected to be their weakest since 2009. Handbag maker, Coach, announced a week ago that it is cutting 25 per cent of the outlets that carry its products. According to Michael Kors’ CEO, John Idol, “Discounting is creating confusion in the consumer’s mind relativ