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":"8f3c8978dea8b76c19ad599203d854ff","s":"7a4500f44acd835a"}
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