Max Mara, Bottega Veneta, Versace, Valentino, and other luxury brands are currently undergoing construction in the north area of Sanlitun Taikoo Li.

During the second quarter’s golden period, the Asian market also performed well.

From August 1, 2023, to August 15, 2023, the Luxe.CO Biweekly Ranking has featured a total of 36 updates from 25 luxury brands in the Chinese market. These updates comprise 18 marketing developments, 9 store expansion updates, 7 announcements of pop-up stores, and 2 updates related to online expansion.

From 2022 to the present (18 months), luxury brands have strategically positioned themselves in the four central cities of the Greater Bay Area – Shenzhen, Guangzhou, Hong Kong, and Macau.

For Fiscal 2024, the Company expects revenues to increase approximately low-single digits to last year on a constant currency basis.