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":"99205c59eb748a3a4222e8aa16d962b5","s":"8f89837666649e1b"}
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