Research
October 5, 2015
Image from #FerragamoHollywood campaign
By Jen King
As the luxury landscape continues to evolve and geopolitical turmoil affects emerging markets, the brands that will come out on top must be able to adapt to the resulting consumer behavior.
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","iv":"43f582f26af99d0aef2078f4d6b8da87","s":"cd7f9fe091f82822"}
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