Research
May 22, 2015
Steinway and Sons in the Integral House
By Joe McCarthy
Currency fluctuations drove uneven growth in the luxury market in the first quarter of 2015, according to a new report by Bain and Fondazione Altagamma.
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","iv":"dd0eaecbbaf5c6bf1f11412440ce9528","s":"d63987a6d171c4f5"}
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