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":"4732a94182a5e09dfbdecc211a252949","s":"61706e453f6fe6e1"}
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