Research
February 8, 2023
The report details the decline of the luxury market within China, stressing the resiliency of digital business. Image courtesy of Bain & Company
By Emily Iris Degn
Amidst the economic and health crises happening in China, the country’s personal luxury goods have officially lost exponential momentum.
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","iv":"b4116eb50b8215f4faf14fcbb0239784","s":"5827355c5faba7fb"}
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