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":"d929357e61b1bcbb6312257c0392005e","s":"ef05ebdc646da0e9"}
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