Bain & Company's report shows that luxury companies are secretly lowering prices to cope with a slowdown in business.

The latest report released by Bain & Company on Thursday shows that faced with slowing demand, luxury brands are introducing more affordable and smaller accessories to attract customers. This trend has emerged after consumers' resistance to significant price increases in recent years across various companies. Bain partner Claudia D'Arpizio said that as many as a quarter of luxury brands are adopting this strategy to lure consumers into their stores. "They understand that they need to readjust," she said in an interview.