It’s called bifurcation — the split in stores and brands catering a budget-conscious consumer on one end and luxury-focused one on the other.

Collectors, newcomers and high-income earners who did not spend money on summer vacations are fueling demand in watches that cost thousands of dollars.

But it could also have something to do with how luxury retail is doing during the pandemic.

It might be argued that Tiffany is losing its luster. But LVMH doesn’t seem to see it that way.

The luxury brand's eponymous founder is also selling a lifestyle, carefully crafted with her brother and partner, Uri.