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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ycNok9sFBZ1yYQASNSM0Ivp5qvEI2zpmE3G3N3CrFAefv9bRcZFzk115JkYshIYvlyRso1zPew47XnRm0kx4BovZadibrpHj+KYJsLrQZIF2gOxTTyuONd30GVaMAVR4tgOhfHvfcnp8lJn\/9GG8oBZEx7O6aYYZoZJBkXpj1rZwF\/UG4+X0okfTrfhi6B4eegwcXQ8ApBsRO9gqVmCeDSozcv\/3OKO5d4vQLL7fCmFovt4V\/TccocUBUP310ra7QKyKOHwOcB68i\/JhI+z2lqEZrrQ2bwdljHnzfZWQ8J0lK7SyeVWhNNpTJYiZcv4Mr8ojnjGe21E4PCMHbPHnk2OiaetiHb\/MixTDaQg4BTLcInWMWtMbP6j9Ql9AsySiTBYa6eYbVsjlsCJOOPK2OdHHXbrWjkSe5kSF7UdFgZUEgB2JLpffDvUgI32rg2FSLhq3E9MexyOIOeLmvHDci5ScewLEffCC63PUrSgNcDVL9l8ke+N\/vY9kaTCKJfGB2FasdobocPcEdJ\/QWOpcSeh0g+yvCB6l3gB3\/47xStmLB8FEItrGedaPQM\/x5VA2EpxrZJTZAakJLxf029FomQt\/rWFXSCz5F559N\/8Stw4\/q+EcLJIgCA1s2RFPcDqW4SwBh8wJJjA2LbTgt5QkbIBtCBEG0Chbq8pb9CVJ9\/JyUJWsHeNS0uVnbYZytrN9cRhVrH+FZDlYwyiFlenwFSPZGP0oK4qpsNx2JMzmYlxiDKzw1RJJ8x2t73FkX+eBqAgPt1ncHBoRCHLV8yljOEQ0RoqutAHGwRvcSgrjErzMkiX3xewbu5+BDjceET2OU0lFYVEl6\/DLB+7eDVbX+1dP51G3TIcoyYhLnwh\/pCNEaFzso1CO5yX5nYQwqL8WFXu6iBbwlSWcY+0A6xMh3AlKYGYEf1hXvod5jrqeF+ekGquOLAMqvWXQP+YDdQzoPD6jyijB8IiT4ITgoMywLPwHy3e58WFBWCeFW34RrSoRzXhg3TdGWsFyDnvdZIkD8FdCeU\/GF\/\/zSe7QW+9+eD5BX\/KPVYRjMAlvRigUpKVpnSYgQiLHt3uoV7028KcIGz4D1YwLV1hwbMSTuu5w8npoVsgJBFafXaJoddGhAmDdLb6oMRrT8Othau\/W+eL3n\/PUry92MrtmoQOxnnA7yfgEgVrFDMypLkUOx5bCX6cp9iWw\/bG2\/xNMNFEnug5O1zQRO2zXGrK8rFt+pw0ZK1iTkj9tGbHgk5kxsBay4aGAmH3ipGbxxNC\/khYrQ4mVbopCv3YssGQp\/ZpIjlFAuYcAfc6AZfg3otQa8wXeSFzLCEWb1UXjyhzzSa9b1TG9gX7KmKgxU+GSYqghyap5wI51dleqEuv6AQAeSZFkrnSgWgYKjbKZlCQ0aTjUz2zfeoDgx9qzUBmE+FIJS2hMotlzA7Y3Wqi\/DqVH3LFjik0VGXrRADaxh5Lf8ngCDSb5btZY2pfEZbqjXlC7twjUdtt1HEEU+YISI09Dq2gmqoY1tLk+dNafGiAJL86ANGxa5GGygWnmDxUTs\/g3LGYyoimYIK\/C\/KT\/JhRj7VY4M0rA9c2S0tJIaaSzjQ\/EvdW56XN+6CgXvHnVxtYz0651vY0i6MlNslFgfnNtC7r9VjfVrSD2zcXHM4FusL41WxxHMiNBKhyJRVxzJn5IcQvvT0In9cgMUxprcLS6e5HCs3bfEDnGVOgxwAQ+xW8PRQLWlSbztiE\/+K44UB5cPVfNu7XR+tS1V\/hiO97TJ2XnkVdkvLXo\/aq+zXWAGQe5gebqGa2yAknamWZ7pQimLR5lPcfJP9\/+2lobFCkhee17zXn0J8x5NH36Kz0zFS0sY9QTvBMc2Tckbzh+pudC7q2FlE5lwxSASQruk0JBmhU4WRk6kcYj1MxEjvp90aVaBEYgLpr9uuyXQgc7O\/3ywbdJf5hh8ks2vuCGcWPuflo9Fy0bmVNdJpx+2+bVGTEt4lGKYkNDz\/S1clTBOf0AZZ9lqG7m1IhkUbp1R0\/tEC7bV9uOqKpJl9nwpVloqPtxAL2G7nk5RBQhi\/J6N80JkH1t1f2X0mbzBKl2SsgXrtO3qowjTTX5B19NwWzZ46718Y1AuIEHWxnDKXMd5p3ohFLZ7+nGpYuutXEQpCL34+V6ICvRB22YS\/gBNKpR3DPwOU\/vJgwBxCTUIofqbmtwXWSUTgImWpxXmIfOrOPXF528vvl1kjCvPH\/jDo91p0B3NZ3eNain6J0rqF9yEGINf1fDzQDNOLignbdcx2crlWhHn7zjn1PhunyUuACsvQWNyGvVfoUxOgMwHRLFwcfT1QcwNupp5x6YekJnggD75+V+D\/El\/zLcSFLOdipLBg6AgpPUWsOLqhJoD3kJM1\/gXb9prYdJFTlyAowJUJO5kjwaS51EfZkWwIl3oHAYGABVZRKDs5ro98OKBEhwFotJUtaeOYErsgmAdvrza3wh6luf4gpiYSj1YQ17L4I7FaaZJxO6XL7ikQQRrGP9lzY5VKmAQXtS30SUo8ZfUPNOb6h\/FMnonUeeMeftQvxecsIY1jQDgjj3HNGVrGqA5rGcMyY1FCOSIkk5wjmrawDelhHltfc6HDGecchM2Z8\/S2mUWS+mdlDpk7ZsvDHfb4myuSHzWzWe56p1TQ6VniX1P7zpANvesxXsPdKOnHs2d0IqKQPwg9U1rBhP2yeh0f4\/lZ0cbOCf5GIeM1JAdFwEnMNj3ARojaVQ4Z1Y1LqGknX6W\/oHOdvLQemAMmamruuY1GYXCV1EeKzE+4T2s6qau5Ri9wO+z5YJUYIIfv5fshoDKjGWhvrZI0QEqcyezP\/aw5NpB2ezCzOrHGhs+hjonH1Pov10TibpgwCTJTBMtTpL0UH7LUPxpTClaxBYxZUlTBdP168rcLg44\/2Xwxd7P56zFBU7BzYgC1VeP0ykBCHdrrJtfv4oy\/23DDQSVxKn9ohWaGt33GRS5m0iXT+MIODqoHBg1UTeFkJKbw8QIXTORIzI3CDKEBe2APTWi++zOOrXye+q4yWnjqjSup6TZqo+v9yXSliS2ahWfwp8wjQ5FDIQBj6SdzGeuzbTKXVHgH0IF\/925FYFD2GXe2h4WGsk+TzNK5g0loyicFwe\/NvUxk6+nhmY+YH6hK6qnTbjsx1J5Vy+SMfVE4mALgJcFlK3QBxaYuAaAgU1Vzwd4xxR25BdNCu15Z1c6R\/9+KmvZb9oLzB6BhZTs6DKJ2\/Je2WVOSipUnRYaROAFLs\/tLRXwQnQaSildOfSd3ru18PTltSMdbzQJtiCBdg0f97RievzbOwkxbB79KlBtLgwIVyPS47XyybrmtQBq4W1JCwHJ2QnDjIwa2zj9nhxkjD6WAFv7efjT9kKFI64hu1dX4O+H2YkGv\/GRqsDLLs2ClztMFswYIRBdIrq2g8mXpExkBWELcEAml6nLIkKin9HfDOFcQZNvATKwqAjvigQAlarj\/t3kNtK4BXy8wbxFXvAwE7t8ekRC1wZQLd+ej2QGT3reb2qlec6oFDfBjR\/Ej1AegnJgUwn3JYTVk90p88iaexfAR9cNR1eAEfzyzW2W07PazsnOHEI+0sVR7dhx6lHaWRVDlXpxZxbLj6or+\/Bropg\/PYXd2DI2INM6ELMnKqIcQ2OQYy+Is1p6puwXPUfxG5RUqUz\/0hmABozNsdN0idySeTioM48XO1cSMMAdqmc5WkXJ8vndo3tMqTpAEreZHEvfAejqgUJyN26mIJcoiP0ekw7PR3vAdOOIUTB4kgbaaIucBgabxtEGKrCrXCgw8KvlPSoy85\/Hjrm2VdFPb\/dTnl4K8eM1OmVuVgfOVrq04s9cvX14NRR24W2ZxDWMdbHJA2TQOy67V8CPM9OXom4eyyNkXFrm4QzThy2KDxQD0w8UI9BLHplp0lIJvd3HNZjgYzwNuPP+gR1c3RttDoKqLj2b68957Y3xbXjzye8Teeqlz5wFAzwW3y52OaGwzoI7cCiM8J91w0tS9Ekm\/ok7qGQYpZiJSxgksktyGe2of6UbkJsV8tHFUjMbpzMu1URE1J1cHd38HrzvLpgKJ+OZ6cEJoR0FPBhhGpM\/Z84n7ws6uOmaaDnLrOY506cuHaqKdn+2Z3Lgntiuyq3vnaEkF1sGsPxsbBnLJwML\/RdlV74eOYsC7fiBxlDTcfwHoyc2f3sgvlDVI3E+eGRD3KWhqMkTT1sKEaTZ7djS5dRRXRRkSUA9y8koHobiL1wifxifBmmBzjC70QbWzjuyuGwl28KgvMDamMaEallRDRSSS\/uoQruDGrkciHHOyP0FzFiv6g6yeLk0+dE8oQqJHc8YlU026NZ\/Ayj2qkhWjMJLW3Pn5LTVeP5Yvq\/jPHf4x+3TE1XKeaRRN\/ro0k+y+u9EXyRb+5WcztZqniCmjveypabZXfdafepTTrkdeXkmO6NFjtZgTCMyZ5mYdRvOrLRQHsmnbaUi3ndsuToWdbNNEkhHpXeMARmp","iv":"a2f3f5878152754617b5f68caa6442e0","s":"65adfda2349f749a"}
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