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":"d0d2d9d921ed322f2b1e5067ae039ab7","s":"ffed78a9587ee953"}
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