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":"dcfda2fd289891a2c35687a8472914ee","s":"8fc75c23e16b7fe7"}
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