Retail
September 11, 2020
For luxury brands, China is no longer a market for dumping unpopular inventory or lazily opening new stores and hoping for the best. Image credit: Shutterstock
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","iv":"13c990dd822e3a571ba089e82885c710","s":"bf064e6d9e6bcff3"}
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