Research
May 12, 2020
Nordstrom plans reopen as luxury retailers struggle during shutdowns. Image credit: Nordstrom
By Dianna Dilworth
The luxury market is likely to contract 20-35 percent this year, as the COVID-19 pandemic has shut down the world and brought business across luxury sectors to a halt, according to an updated Bain & Company report.
{"ct":"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","iv":"8e86722b71b7c49e6018c8bbdc6deaea","s":"5a8591e4c011a444"}
Share your thoughts. Click here