Luxury fashion is booming, and it reveals a dark truth about the American middle class

Business Insider/Jessica Tyler

• Online luxury fashion spending is on the rise, according to a new report from The NPD Group. 
• This is being driven by fashionable millennials who are splurging on high-end apparel and footwear. 
• Experts say there has been a major shift in retail as the middle class dies out. Increasingly, the most successful businesses in the sector have become more distinctly split into two sections: luxury and budget stores.

Luxury fashion is having a moment. 

According to a recent report from The NPD Group, dollar sales of luxury fashion in the United States have increased by 50% in recent years, with substantial growth in sales of expensive apparel and footwear.

See the rest of the story at Business Insider

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