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":"4755b44440cc2ad3d4628910f77a9277","s":"e153268f289d024f"}
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