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":"b296e1c85bb0675220750a39640371a1","s":"011231c7725f8fe2"}
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