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":"bdd82bc04bec07bd3ffc55ffe91497a9","s":"0ea57ccae017cb63"}
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