Retail
November 16, 2018
Younger affluents and Chinese consumers are driving luxury business growth. Image credit: Vipshop
By Sarah Ramirez
In 2018 the overall luxury business grew 5 percent to $1.4 trillion, primarily propelled by rising demand from affluents in mainland China.
{"ct":"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","iv":"4e2deb9a96713b281e195eefeb89a44c","s":"6b822601e275f196"}
Share your thoughts. Click here