The growth of China’s luxury market slowed in 2021 versus 2020, but certain drivers should keep it buoyant long-term. Image credit: Shutterstock China luxury: More ups than downs, says Bain report
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,Retail | No Comments
The growth of China’s luxury market slowed in 2021 versus 2020, but certain drivers should keep it buoyant long-term. Image credit: Shutterstock {"ct":"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","iv":"085e850323c74eab4f14454aacf4eeae","s":"c277e6da2e35362b"}