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":"c08b1525b5592ba02ee3bbefa95093cb","s":"acc890caa765072b"}
Share your thoughts. Click here