Retail
September 11, 2020
For luxury brands, China is no longer a market for dumping unpopular inventory or lazily opening new stores and hoping for the best. Image credit: Shutterstock
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","iv":"4bd81daeae02a083393a57d4fe6ee7a3","s":"0403380ecc386f8c"}
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