Research
January 9, 2017
Image courtesy of Bicester Village; off-price retail is now 11 percent of total luxury sales
By Sarah Jones
In the face of a more difficult economic climate, strategy will become the differentiating factor between winners and losers in the luxury sector, according to new research from Bain.
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","iv":"b504999ed664fd1aff7f68a61d4e0651","s":"dcfc56aff6b06303"}
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