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What lessons can family businesses learn from the luxury industry?
Posted By
a Luxury Daily columnist
On
May 15, 2017 @ 2:00 am
In Columns,Editor's Choice,Featured,Opinion |
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Giorgio Armani has been owned and controlled by its namesake founder for all of its 42 years of existence. Image credit: Giorgio Armani
By
Ashok Som
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","iv":"273e31866cfd2fa5923dbbc8b21bd4a2","s":"f3f70941a2952fed"}