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
Why the US luxury recovery is not comparable to China’s
Posted By a Luxury Daily columnist On In Featured,Industry sectors,Retail | No Comments
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
{"ct":"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","iv":"60eb7995aca8d0b0de269dc21a28e2a0","s":"50f8d8a77d5a39a0"}