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
{"ct":"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","iv":"cbed006adeecfadd9e28dcf08627b8db","s":"7299fb2d22f09cfa"}
Share your thoughts. Click here