Commerce
June 27, 2023
Experts offer insight as to whether corrections are here to stay or simply temporary, with future rebounds to come. Image courtesy of Valentino
By Amirah Keaton
The personal luxury goods market is projected to grow by 5 to 12 percent in 2023, according to global consulting firm Bain & Company's latest study.
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","iv":"c726d5cde8ea55951cefa4a61b5da16e","s":"232b8ba7ad2fdaf1"}
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