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":"e46a12b33e82d91721ef0c44bc066d3a","s":"1e7ebbccaadc969f"}
Share your thoughts. Click here