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":"ce11a04d274c407318d0e35b58f1567f","s":"8931cf90a69a2a74"}
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