Retail
October 26, 2020
Scale is paramount in luxury and, as a consequence, M&A should be well supported. Here is why. Image credit: Louis Vuitton
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","iv":"c3383d1ba05a5cc71e08ad6dba41f8c0","s":"64f0c7d78566d093"}
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