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    The luxury fashion industry is booming, with brands like LVMH reaching a valuation of $390 billion. However, luxury fashion retailers are struggling, as brands like Tiffany and Hermès focus on the customer experience and move away from partnerships with retailers. Amazon, the largest clothing retailer in the U.S., has also faced challenges in breaking into the luxury market. The recent merger between Saks and Amazon may face antitrust scrutiny, but even if it goes through, Saks will not have the same market power as the big fashion houses.