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":"8bc1ea646b5694b74cddf167b271926b","s":"0fa1ca875ea21c7a"}
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