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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tHVN0qdh0oMSabsDCSOAC4ESE9ZWLhE12b8NtvJ9ivLkgwEq4\/NIIRgQkPmufGBXYx86Z5ye8DMhObjosuvwraqDSH9xvEO2nG2ceCDAJxfncqCrs5zVGpZQhVNGKv5xosv1dB9vOXlPaNjRQrf2SLbn2rthdojT0UKy2uJVpHFPOgpNGAX46v6ttbC1iKexkVcRMk8yxMFoAjwAojeYPWaInd1plTUknXKdsFBw874RQYO+Ze9SRaXprauoE+79ZqySnxLp3x8AhQgkG5E1mdpxXQ9XE1EEwlan04zcDwTO1jQodCXR2yxNmOQyDVSbWqkZTaXFSPEpXdGEZ\/Glo7Qw3S0z69jYLc\/bV3jh\/F3Xfe64\/RXZO2+DoFHqmx3NlU9Zr2AQMG+suTqbs1basLO9b\/M26KatgZtfOk\/TTVMeGT6pz3cuyWgFQ7DAsXcuqPxfhpz4SZaG17RxLaubmxIhlgGTL2jXHjG4tvWOCcF7DgIZM\/4sh7LaAk3Wi0bjbyG3uEs2ZGh\/SosI3EDTjVX\/1snsa4oYwV5mZX0ryzU+2PB68xZGhhAIfz+NbKHfUzDGFrErAuGMhSHEmAB6U7DBC6Yl9WI6Rc\/RZeGJFO33try+d9KaHUJbDwISCmuzAnpKJtYhksJLtxVgRlYcfzEq0y3+1ZTxZQQde3YLIaQxE19cQeI831gKwJ4EAIF55lAT235NngnpT8XHtjsBlY\/BYwtv8zPIwPI4YIbznW9ZiyWTWPiMourhiGDU1TJ1cCixaAPKWT8GGIwYiGKeYi5z+gsDvoPLnSwfi3mAXnMc+NuABtkpJgwd6Bv5rHL6Qa3Ik3oBmVbuu7epgQgOjAbT0cHk3TpIioQT7y\/ANzFMCqiri9owUwCibLWXbOaV9krhuDIf0D9D42PYwuhRrK\/CU9sk45HxcDhEG5eVZk97aFJM6FCE++rilxcbC2dthDnDJkVUwEkJCBbhSb6eNllnxxnIlLylkmYMlWU2i6\/b3+S9RNF\/aCpB2JQKPdGoNXGq3nHczUyL1oF7Daq40VFk\/t09AReDIj2ZWGiIOUwHTDRW9lz9z1n7KFcqTX11\/MH6Vve8tTAQXWsDW6G2\/RvgZ\/g20aakZFpLt+jbap1amV7MPAc1sQAeyvNxpRpc042mnQg\/hRNAv28lc2n6DhpPE\/ESdVEpi7Sqz4VP7NMPddE7D5+emMPu\/vwHHwNjdsTBWU3IEu531AkCiXEA0gcB8zZ3C7o1iK8h7UBiMyrlfB3DjQpBVL\/LdAofj0KaRJKTk3suvDxaX6NxItR4i2ZO7CIwj0Bn7srQMppI3SbTKSHxs6Xac9u+1lUiBRWWYv8IN82gHyKA253IATNXRlbrYaLpRXjgq+kawaVHFKgjwt+I01K1BqT8GaHoTB3OJRFt1oxNEzn+5BOOImD6+7SbNY+g54TY4gT5Ss3LFICOJOdDSgX0EZT8ELAw81sgwwjId1Pttknpc0LICnQcGVkShPc7Md8rWR7CQ2thP6nKUIUDiVknGEau5yV0euYuhRPWJlW74A8CMPElZsO\/8VSYjZB453y4e1TCOzAdt2JgB1zwtn2SfI9sspuKcfiYRDRZJimMLc0teRGTBbIwi5QoR+y3d2D5PJuWY7uYjvrZijH5+PV0l+dDtl4aILyBCl5msTfa9F5aBRKBj4iIvUZIJK0ggFpesURwKW3bKWZ237CfX8rXTn5a0rn+S0lviHW0laB4v6OvckioPY9KW48v+AqeBClLUAJL35qGYhU+Xhwjtl6+DDHaxGVYh6KMDmJVuqJJr+nLdC3CgzKPW5rrf7C0NmeNqal0zHFFC2zpBSVh4W\/Egjx5ACLQJUQtEnLTfESyAUTYm6fajGJGOAF7MyEQc921PVb3cNhidIRTcJSjdcICT+wJ3aUi5HpvRxka00b6L7SdkbOVDBqcJu1Gfay+8l4zinQd+VcfVDcTFS96I38s9kTzbE5D8V\/t5Yb5nW6FmfkemZBWxuAWy6jHwupKGZDwCP44grjPjjXMK7z94G1qqwgrKvngDz260nusfufUq2y\/4DWwXTI0ECoGVFGXlzOiYwhsz66d6hoFLcaV6pbA2pVXB6frEe+gv4\/C0Jb3jeQByXFpzGOa6\/z\/nKL4D35gul7929dFguWE\/EuqPYy19bYeXZ5Bn3XU4esiE6WNTvjRDOAQvdMN\/PogKgPQeLZnhq5uOSTRzCOE91Lug2Va3zobKmjOwj\/vKNsm4v2crg0dIBKE0SnX8jevFhrYfSuzXJ7bomuXLvqNhaVddkRQGSLT1QrBUa0XpXzBXRqOJQ+zQwYMCNJC\/Xu+VaNcNJ39zU\/rIhffCU1j66CSOnlHp9fYLefYWkYOEHM+cbtAhNPe0zHK5Le7yfTdi7seewcdjmgSOC8NjyqNdCUxzmxOVZ9nYkkHpzClBsH6MlZkmAsGusUzoan\/ASsD7QpSZ8SINjkD\/pvgv0DXAEqfjZEt4U1i+tVfCISab9I2nObV5P07UkmId9ieFVvgAprs9dFUkOjkWNrJZJ+5znXYoLw9NN84B+xtC9iJamc2kEdbiZt8+bH9jvDrVtz8O8rUBtIh89ivCjk48M8ZM7d8v+otF77wDwysdY\/zBRKLthGQUrZyN1367e9dutFsJp2nk22VScggt28q8EYISjIbHKasCuVmesQ1AgTOaqYPiq3A26TYNhjw7X\/ZrCA6wFfDTtOR+tp7LMJ7H4oFwivnq6fSN+ihC+RBHJGy2UoyVFr5iU9WdYmElPdO+WYKPPrRKfd\/gf7hlakDnOZC0AqgOQlie2GoYT\/5l1Zqe1WaG\/P0WJAT31HAQuzTLqBsZQw41yy6zoCbxcyshPSv6ZS8iyhWCbUdMY4TKlxRdM+M\/xHkp7HIYe6kwttUWbGnT\/GCulKH7Pr+C1xYKA2QkxWm0+gVMlUk8nuOipb1cH8+ANtUSra05XzYnUsF3d982ZavFsvrfuEKbAOuZ+rUHC7yJ8Nq9DukeIAclGPvIXKZYBgFpEyugSuusCprroXPBewRokImW9YYjTjcaK3ZVDMR3rQPfmrsmqaWGw2i2FMso31wnTIQPLhplFxjhaiMqSu5Vy01TDvZc5yVU5p7SNfl7hA7rNxdJIoiJuNMQjRqVA4YSFd+bKZETTEQaIHZzLgwv0EOXU5xW6SPV\/haYCrNmB7KMlTflSVvtEn9M0qtRpTw4noSuVVGWS8uhfGwmfSoBKY9erBHUONMNk8k7iR199\/w8HBscHj4QNdJdTy\/7ncO23ECGd0HmGKpbyj3rN60X\/4ljjh9WffLjifd9Bv+eMPWyvWhr6yKsIpl+2f+jexwJ27T8ctD2FFF73qRZKXxQXJceycK77UT0iem\/hI2AElqED8IybogAn4jbwCojPwKjbvKJC509uEeFNwChVXbGCStK6eA4wMXuojtK9kHHRxoFo4rtBaVXP10oRh1S8q\/Lt7D+\/3x3cuImTQMcHsSbht3bgt1IGSBzp3wkwX7L88USKFSMbrAbPnOmBOI8CKihIW6u9dY2zF\/CcDV2\/BtuUvtFKV8slLJe3xrtxhXfIk1raYJ5Q1K8SE72nO\/2273vbKaIoGHDQEkfEOi\/H9Ot2jvoynfnptBwzwf\/SISbRm0HwdLOoLmEIXWBe1\/YsxuOSvkAC0Uy6uZ+kznTxMbtPR51X8QTQo9zvsMaLPWHjCk3tDgTD0E3iaH+7Ou9H7kDlnKYb0NHurEfaR4COdC8TFw18j4uz82HnHpdc8E+dOS2Pa0\/E0ItgOl52VSVdndf1NLXyP7JVL2SF\/XuX+1irjUusjMfCuC2ae6fxEeqDxuc+Kf4ekhg6uhHunNOmJQO87+cb8KcP21L4A6avdaOvzpAqV28le+YChAEQLlQfJhAFCTA1pYVXeouJb9gWI47bHr40yvw2C44MsyaUnzGln\/cr1Qi6XAOAE3zE\/51iE9bZdHemr3SOCQaOG3YxZI81FuCY6EF74o5NqmT\/bwF5nIbhhxzmExAMR1CDlFDQV3zH\/dllZ0QicEVGM9IGEGrCEGLSI\/26ewae74DCI+RFyogqalCG8\/eS\/\/IZ10MKLKzzyNlc3FMNT0AOIXJ8d4STq3NZm5ZxWfL+JzfBb92sIxAIQ4bgPZB3UmMsTtxsuNhDxpbngH+4ciuuBo\/tF\/HF0gDt9EEdPd+ivaDNEALUOCNfU6pEw9yCISkKtYSbrscGfew44qppE+D9pVUC6H2qhUxCPibNvCnAb2GdJ1gNJtJ\/Ng0dLqerWLlA+1xpX8HZsXOHwwYHBrcjXVfkOyovc75IzAOJYtP14gy8N8EBqGgppT5FSNz2pdQkg5oSLgSsoOLxADqBowhpuBA4NzDW37R\/iNlyw7OXxQbt7nL2pLKZk5mrUFOmy7kMYJs7XSOaTnomVZKfn4Ks5dlb52iRKA\/fy+M4Hr79XsvTYoH\/ZP6jtefARzEGB5FJn6ZeCShy82rqZJp4FEE4JhrZKUi4XxWBuaWNTP+nLbivzq1RM\/xAj5ITGL\/dJqAesfpY8hMIbthKd6c9o8cm0k+6zv0PjbvdApxAtzwWYP\/EPSqtKe988ILxKCqhnAyeEDGAm826mRRCRZtANGo74bEW9wP9D3kIDS\/5bPgWVpFKZ3mQ0hW3PiWaywKy7OiGnR4K1FyTEhSKHOi4HDQ71+rQxoWcU5SP8XIn\/xPsModth4Eub7NcPT6ejrVIinL8sxCZYvMe7LA2Ux2G\/EMZmG4Oj4j20yqHU428u9C0hcfjc0Nm1A==","iv":"4807f10a2a3ea7d3ca1718fcb989a10b","s":"5f3ba763c8c49d6a"}
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