Employees of Dentsu Aegis Network around the region took part in the company's annual 'One Day For Change' initiative Friday, spending the day giving back to their communities. Activities included delivering food for a food bank, cleaning up a children's home, holding a blood drive and building houses.
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Losses increased because of decline in value of investments in publicly-traded companies; backing for newer businesses such as Taocaicai and Taobao Deals; and the continued impact of Covid.
For luxury brands, taking the current Covid-impacted softness in mainland China as a cue to reduce exposure to the market is the wrong approach.