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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GSw8214wy8s7vYVaQZnMaPZbw82hIF3xriJJVMpdZabchrNTOV5o6Jqfa9NwsP05tduphP3Prw9aCE7c4AZtWL5bEprkw4DcIvGR57hlRR5CoJirADluvZIYgwjyb+OAA\/TP75pQ8qNISEcJd+x8aMrcHUopDWSk7GGZ+saa1bC4ZDs17M2oJ5yxd7Ou6IjNTYHLi\/LEaI+F86jANSlPczMf\/+mUytdm9ZWlRw8uBpzWvI1Qo6PL5fr2zmYJ7jT+TnnGr5dPFaAcBskiOD2+ehaZ67YXextSjpjRZGlYxrB8yyHAuVI9qPxUprZ+uD0Z0Gfv181WtuG8NH1HqUD2DzbOLJyScUdNhIQshpQ86IrVi9WSUFbhImP1UzOVkDWjG\/Jag8KLJrbVA+C2DbAbvp0ONZ6ioCfM60nMQQcmXje79\/EQcab6LG06gN2DOcH8wtvItmAReKeOtn+FuKAccmHiYS47Jhg39cJsIDJ7UflEdKB+qjaHMpJssOpEg3UvNz5I0J3ZsINCYtkjJeYDr2ZdWXkUwv3RZwT+b+Q+1nXtmtA63ZkxeyrN7n2Uu04EFKZwnNuYNXeIV3PghgIBjah2sm3euMI4R9KjQkMWpRZkb7NTzT6KojDm7UZpVZno+1TKIQBP8ryq3nuMJiDRQ+NT8b1pSl\/olRBzQ0GaQPg4WdiPRlK4I9BO3RZvwiq7zKqeZkiMRLpZt\/MwKBYRaSWi3ssIoI+iBHVY32oewhL0pjdHuTOcz6tlSzX+bilL6I+rD1D\/6B1wUrgBIcq52k91unaFv0gBfWPQwHj4TT3Ytf0WLl76gLEsVcs2A7qbEm2Du3bDuzYkd0n89Wpe6Mb7vpDFjt4EfosS3vpF50BD0aNbhshbQpj5Si3bIymRLB8Uf7dgqJS2stQ35AU0EiFS\/yh6n71nSREg1NupOFTMfoUcpU1RJLG7emKP73Fbn6VVsyFa11VVhGG\/91zaRqX\/2Eh3nex+PgeiLs4yIwbFEX\/F1c1\/yR0ewTnO4v6VuRipcXoCqSz2FJdrl6xHjrjF1VhK+awZQT1Q6mCNa6IzSZ0x03SApRsKoOvjP3+Bnb3IsTcY4cHbwWzUFe9puIYm3NUhhTZ4iss+fx7UpgTS2OdZbPm1yYNDjA45j4quIQHg0EszGj7AIZE0ApZ1WxkkF2NoeCAtZz90RROUwjQQwS83arjFsaetl9rl6cq0hdifK77tjr5gLIvkLT7UBNsS2+JkaRbXsB8+vMG1O7VSytiMlAvQOukAj2rsKJ2sW0HJjXq0PgTyfS9tSDRBNyx3+57DxulXVdfEh\/vye2phBJzGSMWcEmyd2x89vtRCYIPCBAJGP7LAimHIj5RDhEtd+0m57ctZsJg07jZLDTtjM\/2uhozBrVXDq5QHzOBpSfUFWP5nsBtBI0t5oDRTVSeyXC5TE6PGz2t98xRZKZD0M1bN++TMcQHLX0x\/aXCIFo07kYoncskKJkbt+fLzUcMkhz17P4bKtNQaECLgnvNroOG79ffPzOeWS24Spdw6uQjpbDSedeAZBkPjwhJJpnQ7yNWpZ\/52Y7x01HLNjcjCvEz7k\/DvjvA4zuqWsCaqYqr0HiAiSycBriq8pe\/nPbExxoPvXNP1BpdXYzPsCUb2AwYQk4Uju4BoUrVsw1tr+ZrIuN2r7JyaAKyuxMIV1S7rb3cp7cfwSpXBx6LqOTP\/G3B\/vovQNH+f+GNvpViXhDBQz62UYn1q5ruaMA8KTf5WwHlmnB4KG5y6+\/peg8d64V8D1QaXidsxAdBObPs0g2MIVuYGHzVeJm9fpGFESMDGKuLtNVo8aVOnviUU5oMhnerZSrZraGnbmNmFTh4qUxs7CVHVfUusNcsvb7axuNilEkDnHYMnjTu+yAd6h8cNOYQXLjfrCHbhhHwka1M8y5byaseqqOD2V8xsMdY87xMXYdSucdKvtW8rpq0w6\/dJo9iBsU+hPQOCVjaeOzBTQbvWAFZo8ythzN4rS\/6WWOLcglFBhE4\/TaofkTmtovrfZuklNITrbQ4F0fQ6Q3G2LCqznkPHfwd+I8jCatPCo9qqIbOaUftagFChky\/15fBPBMB2GHD6DFyE1VSZ8RpSgeRwoFwKUognxMREejsgMzWSm14BR86S9HKfCAn4jrTj3UOCicjd0rglqBZ6IqMu\/nr5tJCAukrYMrtMC5Of411Ipa8qR8YXbXGPj4BP6W4r90mc6jBYC20RKx4aRi5l4nnedIF4uqIsaQ4mdCafQUuBnAm3pFt+oRhANMtmubEmVnBs4bFDPUI+sUSj2IXDpVayYQ0tRXp8RHIBRdB+lTnqyTq6umHe+\/IGpAuU98TJfRgc2BzdXgEmi2mRlRyXqGaXTW4rlUdYhSjjGbrKsGD\/3Z8WkNE8vOtXAfBDgnmiQVqwdThTCO6LMksl4\/tyfXaNQqfwmIbKuyg86wUj7I0v\/yOkiJiWjbfV35nOVpZILllkK1OlZYkbiO6adgrsFwK1w6BxthtRS5dWnvx6rf6bYT7fPeKNpNg8TCYjUsDkk41v5xs+NLcD0lIqv0s+iPopF2MM2zKhHRqqi\/sT8cLaYHdzFmAbT\/0Ftp7SmmoiMqaDyzFDhh8JtMlIxYnPzeADnCEIiFLeyDYwp215GdMUIQJW1UCUldG3j4sai3X8A8U23W9zVyiMx9hZG6gCcqQOYzwuk1oAemcrGJzCdVgk\/IfZsyqj9+SZm0IXMd1DBz9aVsu5tUfu+Xmb7lq3gWKFBMvmW+gd+1ngcVGLy924PxIGZGwY4CD9X\/8sLtSJqpjsCa+kLNI4JV0INZw3miglN\/r0EyjUsADy6iL\/2wn9R6UlrmilOZw3bPAL3MN+idzY6gtTMM9Z\/GyJ55hdpE\/7seDQaxOX3O93nbetk+TOTo91hDGWXqiOfgR+domD8OivRm1ghsF6ceIRbilN54T53UHFtKyl03EWCUpZhW6u6sQmBsp7\/yIS5TZkhL2ncWZ3grbk2cKy39bvtOTmaPxM+Vyp4NtzU9xDqy8+B\/OikpfqdPtuc8MUqDCENxo2490qPgD4oDuZ5oEUY6Nz6QdjByTnQufigftVhFsJOg\/yweJEXSRXXD4fResSz8tD5jj8AkbPzmAJ6Q4g\/kXwzx1imEjI3hw4Sg5SjoOTmoQT\/OIWZIC\/VdUeXyx2FsBfgbuZ4AR1xopMIYAe7o\/FVA\/yYvjDNnxbCyUraqul567Z7OTv56YOAdtJBMSGKug\/0XliVgs6VC\/S9KlG\/UOBH1ppKuTO5vhf6qCs77a6uYyYaJVHDH44d8xj42+BmTsN7WrI8lyK3AemN0rm6sB8ch8ZVgHlLw3i8oUPlioNJnZdAiErp1Sj3\/Q2u7UQ6wOTsFBt2R4Feq1A1PmruVQ3L07AKhc63yslgVNjROvYgsThCxEiGUvUIa97Qo3FOj2RPKILj5F1KLmggfrmyJi8hFlYpXGEasA\/zwx5fqRi+xz\/3FjxUYDOgRMpO9SUzEO2CS2+m4SeySrS9GbO3ZgGQAx0q9cjfXfPyr1T5lu5IqclrUf3nmubprMHUbnngH04HASjSJjDafOF+6i1pwI2uD6DiPpkFYwxxRWTbu5u\/mxrXQ5aFtwt7qASJ4hEtBMruaa6uevJ1h9NKyoJJdGlrNp0ffADJfXbFRY10DeVv6+j5cy1+SNl\/IE+4X5CbOgAEnOGRLLS+\/BpKzNHp\/r9J7zMt8JNksfklNcZMTJMRaNJxVfUovm8Xax2txM+6Qe7zNoMhaMg2ArZhK4nmgLRawz+z46gaU\/C6TZvwmOMoENF3Gu3GnUIAc0EnjXSvB3qjphrIsRebgQDTvjzrq0n1FwHSe0yzbcntzCfYqS5Lbe0JjVmIYQMLTqPU1t8q\/xz\/SfPuxaO1jQXv0RykuZD15iXbcyYD8PwqnfbVfbEeh3uIzWU\/Lgq6AfvIo\/e8v3m4ZNeaBnT8u+chPFM\/qlNusThrEIeLl9R61qfYbUwP0On8oBe1a3kkLaGk8I4gZz6sriLAnbETBf4j7yPsTtCwZijkbL3cJFjlOBY0V5g\/B1lMt+iUr\/Q97jIR\/fKjQdSSfMIjxRbYwbyvKUX7rX9LNqOhnjKz\/U1sA5LyaGM54EruPfYRzfey2t19HGYxXm0MTCPprBf\/WBDU4HQN5mqL5AwFtpY\/BWVwSsG08P4L\/99dvkd49BPKNpzPs9hyHHTAVpfsLetEH0MEEMNP8ViAI\/zRGS5pbwvjInbMVF8VicLFAtcpqikF+rnludlnh44hc53zJCaam8+\/MeRZaCUfiagSDh6IKZXpSqkz1tiaZMOrbv3Kqm+LhPHoll29hUwNla247F4YhQlKomkT2mPA\/88QR1zfzsmL5Yjihn2r\/MTgMLxcG\/c3ogNclOMHX0YlS9cQatuGfRQx7b9CFUtp8YT59AUXJHnDUelUOgN1ew4QWDM5nwMM\/akWOT9MBYoSuRL1jIsLGrerV\/j8V+hEpTZeASJetAszd80E1rnyVr3rjwaBoIsVp9MUQifryZzJl\/2Y1FPgOau0OWz1X0j9TGOri8pEXZQf+4Q50MYIYL9\/Vl5kxLs5OmH8SSeF1TX3geF1Jx7FxEdWuOunfKVaGBQlgLzwMRV5Mxn8929ASIRL9jwzNreWfupUae9nsBXW15R4uwfFTcI7DYltj2Mo105VRohV34i+Don5uvuF885JIggX2hFlT0TOqzZXCmg\/z1ocriOxmvfLz0SkmgUIWCYD\/ixFSAxTvXiOwqB70HX+VoRJ4OAxo0w==","iv":"22a9898919ad554ccfcdd4da422df57d","s":"41bf536c45962f4c"}
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