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":"a843c6146e16fc879e8e50692bead8a2","s":"6460ab167132dcfb"}
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