Luxury industry facing reduced profitability, says Bernstein study
![Luxury industry facing reduced profitability, says Bernstein study](https://media.fashiongroup.us.com/m/3847/efa0/6ec1/0c87/3360/78fa/e463/bd57/bc89/8415/200x125/8415.jpg)
Digital transformation, changing consumer behaviour and fierce competition for the best retail locations are driving up costs in the luxury industry according to a study published by the American analytics firm.