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":"445006bd0a4c21534c996d26cb35f1bd","s":"c79830467face28d"}
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