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":"971ca321105d02229ae2a7f8cffed9d9","s":"1cefd15db44e5823"}
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