What Richemont’s divorce from Shanghai Tang reveals about these Western-owned Chinese luxury labels
Posted By a Luxury Daily columnist On In Apparel and accessories,Editor's Choice,Featured,Industry sectors | No Comments{"ct":"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","iv":"f2967acc776ff6a8d8d4e3ee3ab39804","s":"79dcd33e63743949"}
Screengrab from Hermès' Chinese brand Shang Xia's Web site