Retail
October 26, 2021
The middle class in China is expected to double by 2040, adding a significant amount of luxury customers to the market. Image credit: Louis Vuitton
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","iv":"04c42d49bc9354eead1872aeb4a58e2e","s":"63f3567bb65819d2"}
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