Travel retail versus grey market: Luxury’s global challenges
Posted By a Luxury Daily columnist On In Columns,Editor's Choice,Featured,Industry sectors,Opinion,Retail,Travel and hospitality | No Comments{"ct":"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","iv":"20813ce1810c220e7c92e43cbfa0c7f5","s":"ca1ca7ab61357823"}
Denis Morisset, now at ESSEC, is a luxury expert