Whether and to what extent the tariffs are implemented remains to be seen, but the implications of said tariffs on the luxury industry should not be ignored.
Whether and to what extent the tariffs are implemented remains to be seen but the implications of said tariffs on the luxury industry should not be ignored. The beauty industry is likely to be the hardest hit, as its ingredients and packaging are sourced worldwide, and its margins are narrow.
For beauty brands, it will feel as if they are walking a tight rope, one misstep can lead to negative, long-term consequences.When it comes to fashion, made in China usually sparks conversations about Shein, Zara, Boohoo and other fast fashion. However, since 2001 when China was acknowledged by the World Trade Organization, it became a leading manufacturer of fashion for all fashion categories - fast, premier and luxury.
While the top 1 percent may not change their spending habits due to tariffs, many HENRYs and aspirational customers may be dissuaded from shopping. If tariffs are added, consumers should expect additional, attendant price hikes. How much are you willing to pay for coveted pieces?And, although not widely discussed, the secondhand luxury market may be adversely affected. Customers who purchase vintage or used products from international sellers at eBay, for example, may be unable to afford the tariffs and forego the purchase.
Featured Industry Sectors Legal And Privacy Opinion Columns Legal And Privacy Luxury Luxury Daily Luxury Marketing Luxury News Rania V. Sedhom
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Charlamagne Tha God rethinks whether Trump is a 'fascist' after 'leaderless' Dems' actions since election lossToday's Video Headlines 01/18/2025
Read more »
Newsom hasn't been told yet whether to join Trump for the president's wildfires stopCalifornia, Gov. Gavin Newsom is unsure if he’s welcome to join President Donald Trump’s wildfire tour.
Read more »
Republicans Buck Trump Over Whether DEI Was Responsible For DC Plane CrashA number of Republicans have broken with Trump since he suggested, without evidence, that DEI caused the fatal collision.
Read more »
Swing state voters from PA, NC share hopes for America in a second Trump termBusiness owners, whether a Trump fan or critic, stay optimistic.
Read more »
Trump Lawyers Demand DOJ Withhold Special Counsel Report on Trump InvestigationsTrump's lawyers called for the withholding of the special counsel's report on his investigations, while activists urged Attorney General Garland to release it immediately.
Read more »
Jack Smith to Release Report on Trump Investigations; Trump Lawyers Seek to Block ItSpecial counsel Jack Smith is finalizing a report on his investigations into Donald Trump. While Trump's lawyers are requesting its blocking, the report could be released as early as Friday.
Read more »