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":"661ea693962fc8f6fee5b6ccc040dc9c","s":"91b569cb4346d970"}
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