Founded by Constanza Gomez and Agustina Mir, Sortile is based on fiber recycling and transparency and is committed to diverting textile waste from landfills through the identification, traceability, and recycling of textiles.

Investors include private equity fund Arkéa Capital, the private equity arm of Crédit Mutuel Arkéa Group, private equity funds Raise Investissement, and Dzeta Group.

Paolo Aimino, EY Italy market leader, and Frederico Bonelli, EY Western Europe retail, fashion, and luxury leader, noted that “After a record-breaking 2021, the global IPO market took a sharp turn in the opposite direction in 2022. With only 1,333 IPOs raising US$179.5b, IPO activity dipped 45% and 61% by number of deals and proceeds, respectively, year-over-year (YOY).”

Aesop currently has nearly 100 products, sold in 320 stores in 25 countries around the world, and is very popular in high-end restaurants and hotels.

Over the past month, the Italian luxury brand Etro has opened four stores successively in Chengdu Sino-Ocean Taikoo Li, Chengdu SKP, Beijing DT51, and WS Mall Wuhan International Plaza, fully accelerating its expansion in the Chinese market.

“BOLD helps L’Oréal connect to a global ecosystem of startups and gain early access to disruptive technologies and brands to create the beauty that moves the world. Our ambition: beyond investing, we seek to provide smart support to our startups.”

Providence has simultaneously entered into a long-term operating agreement with its portfolio company, OUTFRONT Media Inc (OUTFRONT), one of the largest outdoor media companies in the United States. OUTFRONT will operate the billboards on Providence’s behalf. The specific financial terms of the transaction have not been disclosed.

The export value of the Swiss watch industry in December 2022 reached 2.024 billion Swiss francs (CHF), an increase of 5.8% compared to the same period last year.

Any goods whose value exceeds the threshold will be subject to a 5 percent duty, as well as an administrative fee of AED 65 (approximately USD 17). This will spur local retailers to take significant product and marketing initiatives to enhance value propositions to attract and retain consumers looking for local alternatives.

Morgan Stanley estimates, South Korea’s total spending on personal luxury goods in 2022 grew by 24% to US$16.8 billion, or about US$325 per capita. This is much higher than China’s US$55 and the US’s US$280 per capita spending.