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":"376a6800428c87e2da4e1770328e6ac4","s":"3464ffd52fccaf7d"}
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