Retail
October 19, 2020
Major luxury players know scaling up confers enormous benefits in their pursuit of further growth. Image credit: Gucci, Haitong Zheng
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","iv":"6934a91ea1820dd82db87e8d7f08fc47","s":"5201c312487122d7"}
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