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":"c3d7b395c98bfda05287d65938ea4d01","s":"1fdc9327261c988c"}
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