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":"a094eb13cf9c4438442f9a9e8dc41843","s":"61327f85d0553ac4"}
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