“Corporate tycoons and financiers saw the potential. They bought – or took over – luxury companies and turned their sights on a new target audience: the middle market, that broad socioeconomic demographic. The idea, luxury executives explained, was to 'democratise' luxury, to make luxury 'accessible'. It all sounded so noble. Heck, it sounded almost communist. But the goal, plain and simple, was to make as much money as heavenly possible.”

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