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":"091d1ea21b1072adffb41120ab53734a","s":"ded00f16f0e28ebe"}
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