Retail
November 19, 2020
Brands must adapt to current trends to survive the pandemic. Image credit: Bain & Company
By Nora Howe
The disturbance of the COVID-19 pandemic has been the catalyst for change across the luxury industry, which is on track to recover by 2023, according to research from Bain & Company and the Fondazione Altagamma.
{"ct":"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","iv":"28a6d78c9dd72dba6eb5ef5657cc8269","s":"10e6cec5c4581c26"}
Share your thoughts. Click here