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":"fde7e176a39d06f7807dab1f3d387e54","s":"a2d09eae5874b5a3"}
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