Research
February 8, 2023
The report details the decline of the luxury market within China, stressing the resiliency of digital business. Image courtesy of Bain & Company
By Emily Iris Degn
Amidst the economic and health crises happening in China, the country’s personal luxury goods have officially lost exponential momentum.
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","iv":"955e5f7e8fa852b862ad58f59178dce6","s":"0f39df398092ae49"}
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