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":"a5ea74cad4f288c2e3f1c25dfde1cb8b","s":"99ec6918db759840"}
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