Travel retail versus grey market: Luxury’s global challenges
Posted Bya Luxury Daily columnistOn In Columns,Editor's Choice,Featured,Industry sectors,Opinion,Retail,Travel and hospitality | No Comments{"ct":"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","iv":"22fbfdee3e30f846534b5f2230d44566","s":"c8c8814e4655e041"}
Denis Morisset, now at ESSEC, is a luxury expert