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":"fcd0a1e1be493ff7ef8e8de62e1669d3","s":"23aa1c937825d8ed"}
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