Retail
October 9, 2020
Economists love to use letters to describe the shape of an economic slump or recovery. Fortunately for luxury brands, all regions are created equal. Image credit: Louis Vuitton, Haitong Zheng
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","iv":"83bb90a2da578446067ae5afe0f33fc5","s":"e8a10013e52f250a"}
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