Research
May 22, 2015
Steinway and Sons in the Integral House
By Joe McCarthy
Currency fluctuations drove uneven growth in the luxury market in the first quarter of 2015, according to a new report by Bain and Fondazione Altagamma.
{"ct":"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","iv":"59344c19c9ec661ffcfd4a440a41bc83","s":"98bdd7d8e1e019fa"}
Share your thoughts. Click here