Research
May 12, 2020
Nordstrom plans reopen as luxury retailers struggle during shutdowns. Image credit: Nordstrom
By Dianna Dilworth
The luxury market is likely to contract 20-35 percent this year, as the COVID-19 pandemic has shut down the world and brought business across luxury sectors to a halt, according to an updated Bain & Company report.
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","iv":"34c910daee2793b96002fd6216ec1f6a","s":"4e6efd2f5e774ffa"}
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