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":"36b7a32a7ded3e1fcb1f7143d28fed84","s":"437d029cc3f04cc8"}
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