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":"9cd26fa62881e57a3ce1fddf6687131c","s":"da0a882325e3e350"}
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