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":"fea9aa212e8b48a8336fbc3de5008991","s":"d5c918fa3e76a632"}
Screengrab from Hermès' Chinese brand Shang Xia's Web site