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":"53ceee9471419d1277f301ad7c543694","s":"4d84d6a44387cf4b"}
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