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":"2f7dbc98b09d13cc2bde3f4089485d4a","s":"b65f4a3ea99376a9"}
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