Research
May 12, 2020
Nordstrom plans reopen as luxury retailers struggle during shutdowns. Image credit: Nordstrom
By Dianna Dilworth
The luxury market is likely to contract 20-35 percent this year, as the COVID-19 pandemic has shut down the world and brought business across luxury sectors to a halt, according to an updated Bain & Company report.
{"ct":"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","iv":"bb6b43c404c34adcd83ff9cd51e4de98","s":"f6fc4e840eadb166"}
Share your thoughts. Click here