Retail
May 9, 2023
The return of Chinese consumer demand is propelling the stock prices of European luxury groups such as LVMH and Hermès to new highs. Image credit: Louis Vuitton
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","iv":"d19e813a4ce5a50fde9e04c7d6fb7522","s":"8dd61d5f159c9566"}
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