Retail
October 19, 2020
Major luxury players know scaling up confers enormous benefits in their pursuit of further growth. Image credit: Gucci, Haitong Zheng
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","iv":"b58cf052731073441d0e516c9b7d7793","s":"f6059a612f3cbcaf"}
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