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":"b2b1011a0316a9ee925906e8dd7d60f4","s":"3064ed3559bb9b9e"}
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