China’s economy quickly rose from a manufacturing superpower to a mature service sector. But how will those changes impact global luxury brands? Image courtesy of Versace
Where luxury stands in China’s consumption-based economy
Posted Bya Luxury Daily columnistOn In Featured,Industry sectors,Retail | No 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","iv":"239fb58395f3ac70b6fcb40e76f472f6","s":"29aee35addf70344"}