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":"b5ad95e40e5c7fee9b0d4c2bb285022f","s":"8ce7eae35c4f8933"}
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