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":"936c30bfc6f47abea4dabff0853fc27f","s":"b964f734aac87307"}
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