Earlier this month, shoppers on Yoox could snap up suede Brunello Cucinelli trainers for €617 (US$700), around half the price on the brand’s official website. If they felt like pairing them with a beige Gucci miniskirt, that was available for €800, close to 50 per cent off as well. A Burberry T-shirt? The e-commerce website sold one for less than €200, or 60 per cent off its original price. Overall, some 2,500 products from the three labels were available, heavily discounted.
It is a sign of the challenges that the luxury market faces, as even wealthy customers cut back on spending.
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