The global luxury industry, long reliant on the wealthiest clientele, is facing a critical crossroads. As prices soar, even the affluent are beginning to feel the pinch, particularly in key markets like China. Luxury brands, which have historically thrived on exclusivity and high margins, are now confronting the dual challenge of maintaining their elite status while appealing to a broader, more aspirational customer base. The question at the heart of the industry’s future: Can luxury remain exclusive without pricing itself out of the market?
Tag: Business
Moonlighting: A Paradigm Shift in Indian HR Practices
As India undergoes transformative economic changes, it is witnessing a manifold development in its labour market and human resource practices. Shedding the shackles of the past, a substantial quantum of people are finding the idea of independent contract-based and freelance work appealing, marking the departure of typical 9-to-5 jobs. For starters, a decade ago or so, a job would mean getting a task done at a designated location where one would typically spend eight hours a day.