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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0s0949MJWKgMXnWp8yK98EvTFb3rmIJbGty+kv60vnehDSl7ISbZeubv8MIgml1fdCZ5zbU5Y1aVIVZ4GrcKfYhtTnbuDpaBx2ksRUilW54JKhCe6LV4WJs4Me3Jw1HwcVwn5nhgxjRq9iohIik+clUr3fznu8kqtgZhQUg8fQgghz+HXlldE4WZ8tgLAzMGOsN21dkpPGvIWAZucvhIloekEpTGH60\/zN0x34zIFmumDZRcBkCaQh7F3cvoEYJIPfIDQgMxEVA+tKeOtrYHk+gbqslmx9VY8iM4i1CKbYk1wze6w+pgaE\/ehb8DUywvnSGLq\/OcTRqdVqzM0N03YM7ba8NAqedZDxHIsYOsegdih4kwszOru6LcxXit9WsqUdRsQicaKUwrdmw5A5KsTOCIvl9JS7Uiv+tRvHVvp8mzp5Zp83PhHoU8tIEWQvFWJbJyQ6mdKCDjUfddz4DTI8pMxWuAQlp4DOK2pAFT7t0Ni5jk3gh2a5jl+tsGIysnnogZkyUuczvESoonkiSNLtIEdzlDchEv1qzt\/rdjqKM9rVcTY8dlFf72iIecFansLDzvRVm8waj+NWEMyCe0VCp20k9+6XeiyaUNr7ZIctqlhgdEgbDqhJ4l1735tpSm3x7QeuFUdFWcJz4i8NR\/bjX7PUtSLQJ9bjzyj4VR3xYnnZpsbIyztGXF33zb3CkmPfEXsET8\/+faIZFE\/N\/vLaUJbJeIywdk0M2MB5INa9LwXkBErFe336dAz36Ra\/ToMacSDM6UmihQR5Mda0shrK6wkCx52nAeI\/PbxPtSRjJJffGZikta6gCXx0hxkMfPVSBPT0X2ydNdk1Wm7Uww5iKFi9rPKTsz7qtghNlCx4ohauq+GNRCa9OrVzvCSuk1M9sEMfCVtL8p8\/3shPP55G5jp9dOYSYa6IlnP3Xb4A2sAO7+O3ywvDaGEsj+Nf9MouAnMb4XOMmthOAs4AJppAT6RKwbKAzXlOPXf9lQUOeQ1jQlgxoTv+9rYnNAE8glPhGWhs4lkeN+oXSvlhxHYBSApOCvPGMxbm\/ODgvFZzhtxuXpzZhUaRDS+Z8yaM5bIkY0mg6yrG\/ddz4MdTZ35mXrDsuaqDOFNBJ5y2JZR63S4Hf8SGwmuvXtfWUjNWMEr0g51jSRtfVG0z5+r9vtR66CIIlCjzR6XqN59Dt2sX6gttUUvPEiZK1M0d4qvQ8e8YvPels6v3kScsL3L91FpSP8yhMc4lQAb\/7kYHwwUL\/8VOTvN4ia6tTgzaMDKDP+SW\/lfMz5SQtqU+4vY4CSG1vOSuWdxKLjEUZjxH0Kc9nbDcKWVd2nlB+6txpihQkhjyQjtqk0OEZmmCG0J78xCJVA9TnIpkx\/BZ8frag62NTiT4UpJkpt5Z2XL\/SEiYynhUjxftxL+jQuh7yZxiZrK5lfohL0n5QGlvrkBw9NHSAcMImvu53e92lRwJYoDtAt3fIqSMQqPaFERci8+bar5jIgz7EKNfvmjj\/46X5Otxq0jH6LkhMuBnCZSQkhbN8gGD\/jSUVFy4UY8bYSlDKU0Fs3Etrnf9HGj7I2IXc0CrycMTRRrx6wTT4De4uzrJZrRONjKlShNfCTA6ixYFueuFobdQ8iKG5ZwfxHJxcBfuoSAigSQGmHT4vtUhq3NG2jQ31\/8iRWAolxRK4vzqwu9+o62HSImgPu4bDn6BxvGWzZognQz\/gCMdyAUXe5unPhh9ZCdZQuoU\/odrKH1lKg+QKtZ\/0T3driEAerSMSWAFl2S25MCOMqOnwvx2jXiZNuToNJFUqr5HETuYXGiXDCR1CXsFiYT0N+v6Uezld2nQSEcoqy\/\/IZ1NJsQeffLlicYHluxUs1NHnqHaSc6VbCx7RA9yMHoBC6gYH7Rbby25S5wUZIr+z2NIlWN6quYA2NDgcrFhL7R5ry9vAdh8BoL2iT9REfV7z+n8R+R7OFfMyxobdpFMcgYYwJf0Ujexl29aQtn3RL\/JVxCvpwz7NB9lkOfDBjM\/bpslYZXYb0JUyxFVy2CvkTFST7VJjcS\/bNFBv7KHsLnO6HP1M\/BhXGpQG395pT5v1pIYHsG5nEUzseBBZ\/JfKoT5VGchk4HAMtISXugUvSR73MGB0+h0Z+J99Px+Qsd0C+epN7sKd3FMw63TnWpCLrmgAEKAaAOH8wOI1AmrKb2ZhIKz5r3PrU1BCw7AHfML9aXcsygufp6mzBGDI0Me9ZBERFCqxn305GhDFPMPXNRnrleysneTwHGLAE4IfMrO3GVyzn+1SKKY91EHVAIud2e5J0UhQ8fBXS3u8chSINztq50JQjxjtgdNgWE9P2Tuj5Z9GkoBZ\/NomwkfH0nRxKSoRWboBHNYoBSKm8m1CB2jmbfwoR4X3\/6vZgbeX9x2D\/KwDXRZc4FRRfN+XqiemfuvA5QjFk4dQLQmdhVyOvpP3VG5vdR4ieQzmFd7UTY0qIsWuZ8ZgriKaM8CNrL50mVxgqbU+0raB9bHalYejz3zAgdWYQwy7GY5DKWT1Av+AjAEe\/7OckL10utEvK4uRnN02lXnEdhLdnRh2KUIzYZQiInzTGLxGaxzkMVJTmLGgXV1Pq4JXinV4yr77QhImoaJwTyLaYA419SHokCDMO2iu6+1cIVm9WtSp0c+jcwVFKmAIKN\/NPhBlcjRga9GVVS2rFNr12kyuDz+ZIzIy\/1plxnavxrx6hssLL+6j0MjWVIeeWfZ9NNnShph0Rz6eCqA17dGSRE\/A5pxjgzKUOtzF6xTHfwBq08ySXR80fsP9y3EuKiegqvzS94SaWZBYzq0n8nBsMpSU0mPUbnTbt1dRYuB0zwIWdjank7VIdLWMhelYk9KJK\/w3QvvkSVeTcfHAV5hJzUBbtBRNH3ndnwuFWQ9KrEpAL93S3pVyQMmWXOZMx+YjJi7WNIyc80prxbFIUlBp\/GDt4273PzWYnacOuUNlaOpCBrcJYYApvLGZ+mVIN+D18Pep7lKY13Q+BFgzQOi+DrfOBabyCAvoF+SkatmHL168UrgAmrIrPWJXsOCvEmcfooOrsfhqAz\/bn3qXIhxfvOFE2H9A8fwUYmDbuoIWdBnhto6hS4IKuqHNF6sFERFCwSPyBCNAh7kETKP1GL9MprEOJPABAPgT2eMVqi3wh+Tds\/xtV\/O6BHlzvOKDqdfnRwrCpfKYWv+NEKrvcKQ5HZROHuCwfKesoQDk0FVLoW+cFZN1+d915kVwf3GuVUFatRZGXQO1VAzNsEz8wTacIAx2LAJdHLqI0pGQFVRaDA1TB\/XJqV4vZSv+Jhvc6SQWqQKuBjaQI+TSw0ytw8ICNhbb2bbvR57AUxbk3KzgNIEr8HyqQNA4+XDl2Qkiu9HwiI12893tfuaFxpxvC5Q7vsh7N7SCkbo9upvI++ib9Mn+zKTvBbxHEsYSYoNdolq\/mCdrWvYrC3uiUABgC9SZ6de+4HbtKbnPsX0Vr6DbbvtsMJz9zVx\/7jgOSkKuXANxfiG1\/T6T2vr+rtxvYvfSpeEDkCRmhhn8FEyUP71nx84UWSyy1uWbjY0Y7\/N9+Ts8HyDYBHxf4XL\/ABQrwNC7PNmFD5gxxXSxoGLazX5s9vtKeijMhfL7HCAJv69hb0q5hpJ6ALkmobd4+8dYKLZrtEri\/7DXCOJSKNhJUmvjdJvYI85YjskavDZ5mdqneV+lqp0\/XbYB99diwXpvfLFVwqTurNt1lD7AaYDj0IH5E+E2T4yPnuAFdUSCRQk6R2bOKeigJiQlWjIiQiTgnATIWfNvuON0XUOT\/L6WzsFjnCsfZW3lAa05tBfOAtOmqmjF+Tu\/b1u5bC2vibcJT39NqYCaCQ41GQxfzdC0RJgnvSh52fsL8WAaK77DjYsegmpsNNI\/xV245ScESPW\/ExIxrzpXzov+Q34LZbsfjZqN+ZJ3UIjwz7Mysu1ZIzuL90+yDIfJerM+F4CfzNpNZyoqzuIkuHevyAoOtmoiCYQg7zreXPJu5CXpO1g39xhbxDPphzKrq7A7YUhuTnkpHNU4qWO2nLjb5k7AApYpU+AG+HVQNinaqljrexCuv4L4fMdIGR4VPIIDZ\/q6IV3rurcRI3iPtuexKHXnazI2EZYmo+rZQGeqL7pYKTORafF7\/afGBul\/xcexMeBCLOZOpdHC4lib5yh0R3v6LybiGyjH9HENlpLnas2E\/+ffeAT52AGrh7yKevhMvgCiRu+3HMRGVzRtJGfoSCj5v1\/XQXH+MaDF3kqIcRq+0yWkkqikvz3bPRdngzb9n9ws8OubQBIKNK0hq2s7M0lrvvZR79+fIxsmVQkVpk1AYsbRrXxBLdmn3hSRxWOOtioFKpF3iIysJqJGbAhav6UvCEcRlFZX+KDr28SORLG8AwxlczgfrWKydm\/+KYaQDvKd9OkihSoFar4sE08H3m5qkXc41MIax3TJhjEyfrANnkDRlQAYywIhEnfUZ15zBlT02Nh+bVLFJbodVidOJ1pFVggMcowX5D4eWucqlP8RdyPYKt\/m0smolg5eDy4S6nkmQ6K16cucFk4SPYr5l8j2IFNDlnjK1RkvXRU0F44AFzeHZTYuaKBRMAZRk8HUvAWjYGSdon8\/C7o\/g34+ReSzcjG7jSLbH2fhyfLb2YovsbL10I9BcbJfJy1cNuj0ModVCgiRwgTnLO+BRO+L2uiafv18uI8arfVjyRavAHp\/9P9FD6OTI5UPnrFVz32dkAO3xVjIyKRc7C8vDcYMAjvtgtrqt7tHpfVqO4\/ycQ==","iv":"2fabe6aeca52e6cc4b25ef47fc25de85","s":"a3df90ac3db8aff4"}
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