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.
{"ct":"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","iv":"caa9a9b4b1e5d1615c9685f48c825982","s":"c560ab0b1ecc2f06"}