Retail
October 11, 2021
LVMH, the biggest conglomerate in luxury, has continued to outperform its peers. How? It is mostly down to the spirit of conquest. Photo: Dior
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","iv":"73b20a947b3d0ddb2a786445fbe10402","s":"5259da61e79fdfdb"}
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