Retail
October 19, 2020
Major luxury players know scaling up confers enormous benefits in their pursuit of further growth. Image credit: Gucci, Haitong Zheng
{"ct":"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","iv":"3bb4909b8cabf257eb7f4412f0b26e5e","s":"a7dcbae6c0491cae"}
Share your thoughts. Click here