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":"e477d9af9e2c7ee5ad58d071d9b5a190","s":"b5804a4204be8be7"}
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