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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iV3enxsbr77Aq3KFPROSwfL4OhIkne8zSyKE8qQ\/O8nuWj6LTzYA5AOKqIBCQRMM4tiKtYEX8ilnTzV74NV4SNXUq8eIF3MS5rEa7SZrZvv5xnB\/5WtRwSqXBiwzUtim\/eRS9RBAdbu05t+Mr4tXR2Rn\/PCfStrlYUc9Kik5PF89aphYbEtcmXVKCbPXD3+VT3uVzeY3oDtuqKc3wwxIj9sHnJUOn\/0MI2Ini\/7oOmqD+TvD26DFa\/jSyHxFjyzpSU6DGUo74qMkNXY1LtrRegs7MPOJTxxOB2lKGRVCBCXba4zilcgF8Nupp2G7TyJIUukQBwvtCqh8mNgpRBgF33RDUyASbLyCgpCDs+XkKxwVe+\/fKhUnh9etusO31I+Qags9m6I0qbK5OmR0fwAPaR4KdZRCKUC5Fq9O391zMpR5gnK6mH6Isanz9AFs6RMHNmSYXHVawJqXmBHIqH606q2m3r5gJi4XDEeJAoiPt\/ozGdaEbzXgQNXhlaqFXwxTbjMETfj5AiQghOnU2k1JHhkbVKhtgdZbJXz2vb7E0YGDpOEu6OJRnzqy5EOXbSNTiPTytSba2kY3gb+L67UGs53qsbYUuESukaUiN6xdae8AU6yy3Rti9uw53XenbgX67heGG85ktd1gW5G3WlaIy4w0uh8npIJD65KfLnQe0ERfluIjVWeREZ1Jo8BodbrOVqqN7+fcNYCDZ9d84CX43QDPT\/sBjsXlDyXfe8pFBVcp14MDlfTb6Yo\/Gk8hpx5qUuk+1K\/X\/uyd7Ds5JqoEmpM\/akObkqIHpeDHZUfQhATKneRS7N8F3Pv0J4T4c\/r4ieyc9stBJNeLXgQ+UXXR8D5ZzPvsN4faEykiLJPdHOGv+DGKXUFqOdXoLVRt1fPrsJ61iLxahueDkh1IGmdATT0WzLgV7\/XbTeXerCYOX2Smw3qkFgPCWtZOCqVc2HNODigoytTq9dNv82pvAcDKV4MwV8fkIVnKptsGmoXY5enPNxQc5FfS\/SclJNofPemEoA8BsUdI2bzW2WJlukmSSIfDM\/\/G8PiPvJ9uMxa9BMxL\/A8M+Aj26\/6aQmIXBTBjlkWu6X98CYl3YQgYYqFS8ssqpk5DICLYF+LMQhdmUcd1iSMyvRk11\/+6DTgTRxL2G0HjEn2yNUoh\/NgO+XgsFD5WL8aCtjgRDtL7rOVLJ2U+oGI450q68DIjoiVeCkrg37jmkBgX1JXhloI3eBvjk2fZvQLC9B+k0mhHRP9kBOuvA0n0uCuoxSUXAw49DWhvp54agFxZgdkfARhZGFnGHFrnPBNmc2U7xqityN554CpCNIk5KsMYB15uT8ykt+7fBV1p6vQQgB8YDNluIMSP5heR5LVQr45bwiCfarrCNRSsA1AKbz4addaJ28pbLTJOaZbfDrJZd\/jKZoosOJxv7ZabZPxjyd2J7SeMLElrRSOlQXUCVZ+LfhnQ3neKQ2pluzwMvQtFsFKpEUtdMbJ7DVR74Ua2Y9K1oL9vm5I8TRkk0RzlwxlzZ9dheOLpJReAGPblkqW8hydnLaBif\/sPmNMljVp1O14nPZqfN8xAVeesXXWUl5ERByiQfXhWNb\/9oV1JVZJTQYXJBtPnDkFuzZUYPAzz9vpV4qAoTJI0cKHMelQw7fFKGRxFN9mRK0lwr2+ycxkhbIeKQe2KrypAh9BEckO0YWfrRH4GbN4On9Vfp0y2VQOueKAXIFTo3Gj431kzZpuxtoI3dQnSHn+2zZsHcLoeLTiyl3cLriFp41sZdsoxZcEjWVG4N5AA9oG6NE7QGVfQysON\/Ia+ZNk15ldUWm6DK\/6dh6Ui5j0V7dgn3Obmz4hDg5k4S46mqWqVkGeD9nWPiVisj5Ql36L9l9jZOz0dx39n5MwOltsWwisKHQz6OupV0wsiIlXupGTsU4OrH0\/Mr38e\/tWCdhqiBn8RjKBbCdZipvBx2GhbSeW6tVBNuWJ8kwd619RBsfDVamOg5zmHkDk5JE5nLmWQQTMFDnnVh+Le0XXlWMOduq5yCuJYyqc5+Q95mShS3MZxWXezW1gVf6cm65OCBkYxTa1ZE1PAXP7NKx5EQvXtqRaWdp+DjudapHpX1LOm8wmjW+kvbvlAuVd9aEWScn6E4WgJYvHFh8nXGsBdpvXguDiltREMkyfWJ9ma\/QC4XoVzm2qZlt\/ukY\/28XcPJXAjCFVOAlxh\/qiSinCog3lf\/vzqBzWjNubiJoxekxt5xmzruLnUetJI5KOz5UJ8pxRUt0xzikJ3uvYB8kH7JFSiD8Aa23gozFhhL1fIgcl165YdrtUuO1VXf83cLLUbG\/4gJQr6audSKhnWwpUOIq1phh3dBw55pLdpAEJ6MfXSN0YD3\/FTsBpoI3NoddEA12xtxc\/ag4c2t53i3bPwNMkSPsMrP3yJzecGf+HpS5HVNgeIGkPAqSJ+drsSNihvwJZnlDtxsGckZfIYeVrjnC1nDQRSXTf8YcBkFYihE5Z1YtXzcpAuokaA7yAX5XZoBGmSnvPdP\/UAy7kN1vabiqLUmll0u3j+VZDTVYZ\/CgWH04R2PqDYDFHSkVGgdMFHXpQpiaj9O3Xl1cPpMXFsu\/5CUO2qNyDQ9psPpQpY1arkA0OSAQpGlmQVz\/EXSmduUrZVsmLG+3gpd64D9YLdGTQGSfOJGjGRnbKujBEFJQxxlmk19mdOXusRl6aEVQHQRrKhqM\/19zFXLCvELcAyWO98n0D3YD\/c7TipPuSbMTraS6bEINObXRIpQfRlNuUgpGdqOTfAWkHEzRqIZH\/RLgtH4HiB+HkkJfW1EsWhTSUpitEAtWrs6W2MXNIowSVWSwzDrmedH9spTyn7kenrhEOYIB4AcUXMJFTDuqoau1sWS6lsyus9hMwJp4lltao4QiqhH7Qe47zH6dGVEQ8n7xE2i10C6EVNRHrdC4dg0YirUSsKDwGB06h9wxZ0RxZ\/KC7DlhmEvhSCEhsbPLmrj\/yxMGjfy8sVTnI\/haoY9BuKZVT4H0r491PjN7Q9ssVi01AmkMQDCJ9WCF7XCB0txgcIboWDo+iuuQDhH\/dn29v6yDDH++A9S3pLsaIAhz7honFwW\/JbSBI0LjkTDf4Q0zQuv0yqcDwqNUeq9knaacaI3ib0d21NMJELAS27eGKKkfC4TxD5HarAfm13qs2tr1UpieCJaHz7AAsbjIN0bWV7wV8CbJO3ZDjKCoBADJEMwvBdgK3aFfgQx4ApHO6fGwncPUdDZTF6v1to+bnZ+NZH0JtC2+45E5MrI99FQ+4F3lvc6tKtnZTnsQBqk1F8z8GHcY45wqB4pmSSyeJEY88GTDDIgIAOtterM759rY+emrj8vZ7YFKwjpsXQGWgo+NYq9dmGBbBK3cjzHIbrs4AWlexrGZ4wkRoWQDLeoH7QDd9AMSh7SFR35Nt87+0nP2Hl38pwtoQyz3TAKzIW2NnAR5KY8albYtbTFkZlEHmnPfBRknmIdJcDPGL1nbtU7ACUVOeKSAa7r9RNSDWTHqjx2784FIBbMXd87e6kdNFU86m1j4HfNzuT1uKbjNk7uwinIytz2b+b8SQJpl25u3QdYYhIZRiCitdbJQZR890k++Ha96AW\/Or2TZyISDDXFhnL7rGU8JuhkMuiL4BpNJmjXLjBv3czGonOHSN2w00X6EZYjz8aCWDgKZ5MAKaPzPedQzxLEBUQZdfOon0eVxCfDcVAiPQtb7ZyXZ31E\/A+y\/5EgQ45i6o3xkOEWIqmkkrSuXOUGHKNsypOEK9fROCr3pWGuy+i0n3Jwppr0B71IJHoLkZg6+4+xlR+07sWegcOD4Ev\/\/dWMblF9HUqr8l5xv\/p7fRPlWDbBf5y\/s805NCYrulSdFtZUUwMUsX3ykbbMyxX7VpnivLGCdifWjeIUOP2q6IB4qblHlb7wIjjwjeowwbX9Er24CBFOw2Wsa2CPyi6HTcUTIBcmDqMqAV66srIwqEIVtoMN4paCRQhEG59huUhKZFs6htgSAMousQtR7R7+HmGCAfvWW8TI9NihO4\/I3Zxm4Xr+IDesTJAnT8dd5WwqVc+MtHUr+m+BK238EI4EQxL0u65aM2hj7ytAuUlowpY4kcwTMmuccLtOWge9DDNARL4Ms2x0rgzkNajkffirIOFoFxh67yFOPyoiaOq5Tmt2qXE3utUqkpYhIH6CkomqHQqbp4QdXMTNk\/bS22v3ljY2eLgKTmOSpGpA61hsiGz53Z8Z53Ws047wQkLXrYJ3aWF\/KjBTNiI\/BsaL6Qc0tdRFx1tRFbZZDxVIPLSrPyThsSS2CPtbC3\/FPi0E\/eekRAnkZCySKTEdSmqAsN9cS1Gt\/u+7rjh7sc1KLUe1erabUG\/H8WbeCCwo8m+m+o2AS9l97jx9obEMby4MDYGnfbI67VNPSqTmaRWSTsylwK2U4tLGB2LedcC8jkwqocBE0npb3uFgW\/F3UB0MY7fXC4Htb1YQNFypGd7YN94qQX4y4YlTxzNfKjE\/tpW\/efhyx25aV2Q8IwaWcGpFJlIenUgaLyyDiS7qZnLLA7ru2dUeCfmgJrY\/+EZdxAIspuppqEF2Qq\/09a4uH3qMv6vFQbPoB1nj5WmMB+w1OOvZeN2PC3SxSFUY5Zv+Z0g3+OowQ0eFbXvTgI9MChMsZyJxq+qzcCJ5Xpr6RTdZnxkiQAOIfq7v6YbtmlkQ+sDF+suNMVogs6i2t\/id9iJyqUNQtphTwk+Iyq3AseqhjzAqHNfy6DVbNSXE4yqUtDZ+FI9bW6p2D8swRr\/bg==","iv":"ff21ffc59392bf8acc5c47b438f477b3","s":"c3be4a0825120c94"}
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