Gucci could be Kering’s greatest strength and liability in China
Posted By a Luxury Daily columnist On In Apparel and accessories,Featured,Industry sectors | No 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","iv":"694c32753bb80c88f12c38f41fd109fc","s":"f14411ac99b219a0"}