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":"6361aa7d44f736364b2f9f75d7ce355b","s":"0077f3c5fb31dbb7"}
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