For an ordinary product, a discount can create urgency, For luxury products, it can create a completely different problem.
If something is constantly reduced, customers may start wondering why the original price existed at all. The price is part of the signal.
Exclusivity.
Scarcity.
Status.
Consistency.
A luxury brand may therefore prefer to sell fewer products at full price rather than train customers to wait for a discount.
Sometimes the most expensive thing a company can lose isn't a sale.
It's the meaning of its price.