Retail
February 28, 2020
Burberry Chinese New Year 2020 campaign with a capsule collection. Image credit: Burberry
By Mickey Alam Khan
As the coronavirus reaches pandemic proportions, luxury marketers may be forced to come to a stark realization: 2020 may be a write-off, and the five-letter engine for profit and growth – China – has temporarily sputtered.
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","iv":"0cd65e01076e70b298583d71343200a4","s":"32e1b324bf544d86"}
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