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
{"ct":"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","iv":"ab5801101511fc6185acc10fe35ce98b","s":"803074d149868cfd"}
Share your thoughts. Click here