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":"56ccac46b17b02157d41f62fc7d6ed3b","s":"dddb861f5dd408c3"}
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