Gucci could be Kering’s greatest strength and liability in China
Posted Bya Luxury Daily columnistOn In Apparel and accessories,Featured,Industry sectors | No 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","iv":"ae82eff959e9ddfb3e1dd01d7b170cf2","s":"ab681b62ebd5578a"}