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":"1c7ff3b123dff7c9e96460f2310fd48c","s":"fbaf166181dfc7b0"}
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