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":"961bdcd0cadf184858c4c12926c70a53","s":"07bd48650576e9b4"}
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