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":"1f9c1e2f5c49fa0ae8fb0b65af49fd06","s":"25971c1219025843"}
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