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":"b49d0c6f2e49cdf0adb7c704c43a7e5e","s":"fa7514895e345fba"}
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