Financial services
December 12, 2018
Image from Salvatore Ferragamo's spring/summer 2018 campaign. Image courtesy of Ferragamo
By Sarah Jones
The looming trade war between the United States and China and crackdowns on the daigou market are weighing on luxury stocks, as the business’ biggest public companies saw their share price slide last month.
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","iv":"634877de397551649c995edc17f5d222","s":"660c6b27b4583200"}
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