Research
May 27, 2014
Burberry on Tmall
By Joe McCarthy
Although luxury growth in China went from 21 percent in 2012 to 2 percent in 2013, L2's latest China report asserts that the overall picture is rosier than this plunge suggests.
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","iv":"69539eb8fe02e5365797b16c6d35cd30","s":"393ff703333b49a8"}
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