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":"9e957adedc157525f142e707abb732a7","s":"d6bb041b06402833"}
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