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":"bc62d4db9db793fefde3003e16bb5e22","s":"d7fb172499898770"}
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