Major luxury players know scaling up confers enormous benefits in their pursuit of further growth. Image credit: Gucci, Haitong Zheng “Buy Less, Buy Better” means luxury leaders are only going to get stronger
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,Retail | No Comments
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":"842aa8b9ff9285491fb7108f6a6089ae","s":"b3dfc429f15e832b"}