Retail
October 9, 2020
Economists love to use letters to describe the shape of an economic slump or recovery. Fortunately for luxury brands, all regions are created equal. Image credit: Louis Vuitton, Haitong Zheng
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","iv":"cca573062f1a033007c2040bc35ef3ef","s":"9cab80cf99417cc2"}
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