Retail
June 20, 2022
With first-tier cities oversaturated with luxury brands, it’s only logical that they look to China’s lower-tier areas to expand. So what’s the holdup? Image credit: Hermès
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","iv":"f1a611cba44cd72a92ee1c3239c08f73","s":"eb5193b06081c1ad"}
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