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
{"ct":"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","iv":"4110a353807f466505c3db0a191520da","s":"fc8e6d9a6e348ea8"}
Share your thoughts. Click here