Marketing
July 15, 2021
China might seem like the answer for luxury growth, but there are risks in the medium term that could derail this burgeoning luxury market. Image credit: Li Ning's Fall/Winter 2021 collection, Weibo
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","iv":"84ae95f2e7198bb30bb05f4f45a53ee1","s":"60ed163e0559fb4b"}
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