New players, new locations and new shopping habits have changed the luxury market dramatically in the past five years, but stores remain a destination for shoppers and tourists, according to Gucci and Bottega Veneta owner Kering’s top real estate executive.
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","iv":"66a2aee39383fbeca5f3e75f7057f361","s":"61328b9f4219e93d"}