If the deal goes through, it would be at a discount of around 90% to the initial public offering price of 295p roughly 18 months ago.

Driven by continued strong brand momentum across major markets, annual sales were at a record 26.5 billion Danish crowns last year.

The business in China has certainly seen sequential improvements in Q3. And that’s been better than in the previous quarter. And the group has “seen that momentum carry forward into January, as the country continues to reopen”.

Camilla’s revenue jumped from $98 million to $118.2 million between 2021 and 2022.

The Company expects gross and operating margin pressure to continue in the first half of 2023 as it sells through the remainder of its higher-cost inventory.

Dani Reiss, Canada Goose Chairman and CEO, said:“We are confident that the brand has regained its original momentum.”

Estée said it expects a return to sales growth in Mainland China and Asia travel retail in the second half of the year.

The company was upbeat about a recovery in China, a key market for the luxury sector overall and Swatch Group in particular where it generates around a third of its sales, according to estimates by Zuercher Kantonalbank.

After the transaction is completed, the company’s shares will list on the Nasdaq under the ticker symbol “LOT”. Lotus Tech’s value is expected to be about $ 5.4 billion.

Annual Net sales amounted to Euro 1076.7 million, slightly ahead of the 1-billion-euro target disclosed by the company in August.