Cathay Capital announced the launch of a fund in partnership with Kering, L’Oréal and Pernod Ricard. Will luxury be taking the Chinese investment market seriously in 2022? Image credit: Chen Peng
What’s holding luxury back from investing in China?
Posted Bya Luxury Daily columnistOn In Featured,Financial services,Industry sectors | No 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","iv":"7dad7514629ed1446eb3f2867d7fce9d","s":"91e7d8bc9fffa239"}