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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":"832ec1d936f1fd65f099ad5a1053d02e","s":"2be6cc82f77e0ce6"}