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":"ae830d98871456bf02855786c3a848a3","s":"5645e50da205209b"}
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