Will the global love for European luxury goods persist in the future?

For example,
royal families exist in countries other than the UK, but the UK is the only one that becomes a global sensation due to its "premium" branding.
Of course, products with superior European technology will continue to sell well,
and Europe's status will likely remain high for some time to come.
However, I believe that up until now, especially in Asia, there has been more than just a high status for Europe—there has been a sense of "fantasy" surrounding it.
But even if that fantasy disappears,
will European luxury brands, such as those in the fashion sector, be able to maintain their current level of prestige?