Research
February 8, 2023
The report details the decline of the luxury market within China, stressing the resiliency of digital business. Image courtesy of Bain & Company
By Emily Iris Degn
Amidst the economic and health crises happening in China, the country’s personal luxury goods have officially lost exponential momentum.
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","iv":"8e40486754ecf237918561ed139323c4","s":"33321927a761c375"}
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