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":"b08b9d40f952b760d4efecf1e140027e","s":"2bb044ae9e72ef53"}
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