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":"9e3896fab7f6ebceff0c33da7fccdd93","s":"db64a42931ca399f"}
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