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Can emerging luxury brands compete with the old guard?
Posted By
a Luxury Daily columnist
On
January 4, 2017 @ 5:00 am
In Columns,Editor's Choice,Featured,Opinion |
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Ashok Som is professor of global strategy and chair of the management department at the ESSEC Business School
By
Ashok Som
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","iv":"45593db6d8eb23be136d80771754866b","s":"f8f2eb18bad42d6f"}