Financial services
August 16, 2019
Some signs are pointing to a nearing recession. Image credit: Frankfurt Airport
By Sarah Jones
With global headwinds suggesting that an economic downturn may soon arrive, luxury brands need to be guarding themselves against the possible slowdown.
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","iv":"ec319acac9951540de5ee33cf9ee4036","s":"289d988247e56924"}
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