Coach and Michael Kors Tie-Up Shows Limits of Accessible Luxury

In the aspirational world of luxury, affordability is a tough sell. Of course, that wasn’t the reason that Coach owner Tapestry gave for pursuing an acquisition of Capri Holdings, which owns accessibly priced Michael Kors, as well as high-end brands Versace and Jimmy Choo. But growth in the less-expensive luxury category has undeniably lagged behind the lofty growth experienced by high-end peers. And with its core customers—those with incomes comfortably above the national median but far below the top 1%—feeling squeezed, growth looks difficult without scale.

tips

aspiration 渴望；志向（aspire 渴望；inspire 激励）

tough 艰苦的；严厉的

pursue 追求

undeniably 不可否认

lag 落后（可能来自lug，用力拖拉）

lofty 高的；傲慢的；崇高的（loft 阁楼）

peer 同行

squeeze 挤压