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The luxury bubble is bursting and not even Cettire is safe

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In the hilltop town of Sicily’s Taormina, delivery trucks are lined up to drop off and pick up boxes at local shops. They are stationed a few hundred metres away from its main road, Corso Umberto, since the medieval cobblestone streets lined with luxury boutiques are too tight for vans to access. The boxes are stamped “Cettire”.

Taormina is a luxury enclave, offering spectacular views of the Mediterranean, and enjoying a buzz among tastemakers after The White Lotus filmed its second season there.

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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at [email protected]
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at [email protected]

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