Research
May 10, 2016
Michael Kors Chinese New Year campaign image
By Forrest Cardamenis
Luxury brands can no longer forego a presence in China and hope to make up the difference with tourists, according to a new report by L2.
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","iv":"36df74ee32c43b65f1d67b3aceb78903","s":"d8fb42cf07e3de3a"}
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