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":"cb8df503bd9b867d4fb196b31e395670","s":"a5c8a09cf564d011"}
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