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":"c84ed4435443e41f0ed1bf7b1a16496b","s":"56a565c63aaf46cf"}
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