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English definition of “the grey market”

the grey market

noun [S] UK (US the gray market)    
COMMERCE an unofficial but not illegal system of selling goods: The store sells designer clothes and shoes sourced from the grey market . → Compare black market
FINANCE the buying and selling of a company's shares before they are available officially: First dealings in the company's shares will start on the grey market on March 27 and formal trading begins on April 2.
MARKETING people over about 50, considered as a group to which products can be sold: Motorbike manufacturers are selling to the grey market as much as to younger people.
(Definition of the grey market noun from the Cambridge Business English Dictionary © Cambridge University Press)
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