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":"057e7a7e89943916eedc5748339adf10","s":"311fc083e993898f"}
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