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":"bc696ae7b72078f4fbbfbd1d0733ccf7","s":"21020c16841042bd"}
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