Research
October 5, 2015
Image from #FerragamoHollywood campaign
By Jen King
As the luxury landscape continues to evolve and geopolitical turmoil affects emerging markets, the brands that will come out on top must be able to adapt to the resulting consumer behavior.
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","iv":"31c8b7eedb8b0f1a8741045fc7a630cf","s":"5e0851da077a5ecf"}
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