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":"ff3db33eb63e3af5cda79b9ac5a8198c","s":"789f0a62320e983f"}
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