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":"1f9bc5772908f61bc024c387f1497cbc","s":"674fe6d5139d6eeb"}
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