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":"9f192534560f7b7c18c0983b6b1704bf","s":"ebe28332e8390ef9"}
Share your thoughts. Click here