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":"67b4dee42e9d6a184a5423e7a9ad0e08","s":"4e70a29bf4e4cd81"}
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