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":"3608075de25374a6725669e1d8129356","s":"76c0eab68e124956"}
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