Retail
October 9, 2020
Economists love to use letters to describe the shape of an economic slump or recovery. Fortunately for luxury brands, all regions are created equal. Image credit: Louis Vuitton, Haitong Zheng
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","iv":"24620877fd6b83040b6b754310570c50","s":"5c29a4db3f32e13d"}
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