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":"b985ccc2ef25b6fffb5256054ae83094","s":"600c91ea8184ba65"}