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":"5aa17c0c88587626d3f2aa57b6d72206","s":"ef8cca8606636c09"}
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