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":"33acd7b8fddb6fa30647db0adda26d30","s":"9c9893be5cd8d8df"}
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