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":"c09f9e7db1d96277b9db635739d5292c","s":"6c7e1313d2ca095c"}
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