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":"0a5bf8d219e7e6669c518aae2214dcd4","s":"19a8a3a639eb0a58"}
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