Research
May 22, 2015
Steinway and Sons in the Integral House
By Joe McCarthy
Currency fluctuations drove uneven growth in the luxury market in the first quarter of 2015, according to a new report by Bain and Fondazione Altagamma.
{"ct":"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","iv":"8a507d2a5aad3c87651b5df921bd130e","s":"73efa34a56e8022a"}
Share your thoughts. Click here