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":"1c12cbe98dd8badd3c2beee37f9c885c","s":"062784e03c939177"}
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