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":"38297b41574d101e3671b3c11f7a10ed","s":"763bf291968c8afe"}
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