The luxury business will take a major hit this year because of COVID-19 shutdowns and travel bans. Source: Euromonitor International
Luxury industry set to decline by 18 percent this year due to COVID-19: Euromonitor
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,News,Research,Retail | No Comments{"ct":"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","iv":"ae1b0710cfce781fa85387fed207b33c","s":"805b3d032b2e0397"}