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":"7a0d5cb12ddc7f41e349776542efee1e","s":"0422b1624c786725"}
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