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":"41b18d841ba32721cbe1ba5dfe8bac64","s":"a27d1a67ae94c40a"}
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