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":"750aa0ad735f0b02200d83d8156c0cd3","s":"97184b91fa277366"}
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