China
November 2, 2023
The ability of luxury groups to retain existing Chinese customers to sustain long-term momentum will become the most significant challenge. Image: Unsplash
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","iv":"c693b2f347dcf307e46ea22719874b3a","s":"12793b57858a7ced"}
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