Marketing
July 15, 2021
China might seem like the answer for luxury growth, but there are risks in the medium term that could derail this burgeoning luxury market. Image credit: Li Ning's Fall/Winter 2021 collection, Weibo
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","iv":"eee0f06eddc02d1ade0941ff00515f4a","s":"a87605df8ba0fb12"}
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