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":"45952d75e8223a71ad502386259037f0","s":"bcef057761c4ddc0"}
Share your thoughts. Click here