In the first quarter, China reemerged as the growth engine, driving a robust rebound in sales in the Asia-Pacific region.

The Chinese market saw a significant year-on-year increase of 29% to €88.6 million, accounting for 32.8% of Tod’s Group’s total revenue, making it the largest market for the group.

The group agreed to sell Aesop to L’Oréal for an enterprise value of US$2.525 billion (subject to customary regulatory approvals).

“Our 2023 first quarter was the best ever sales quarter in our history as our European based operations grew the top line by 26% or 29% in constant currency and U.S. based operations by 19%.”

Santoni brand has experienced rapid growth in recent years, with expanding its women’s clothing market being one of its main focuses. The 2023 autumn/winter women’s clothing collection is based on the brand’s classic elements, emphasizing luxurious handcrafted techniques to showcase the unique qualities of women.

The company’s independent brand business benefited from the explosive growth of domestic outdoor camping, achieving revenue of RMB 705 million, with an impressive year-on-year growth of 130.50%, becoming a new highlight in the company’s performance.

After the financial report was released, as of the close of trading on April 28th, Ellassay’s stock price rose by 10% to 12.09 yuan per share, with a current market value of approximately 4.769 billion yuan.

Despite the fact that the Chinese market accounts for only 3% of Pandora’s revenue, the company hopes to achieve business growth through a brand reboot in Q3 of this year.

Estée Lauder stated that although there has been an increase in foot traffic in major shopping areas such as China’s Hainan Island and Korea, consumer spending on luxury beauty products has lagged behind.

The group appointed Robert Triefus as CEO of its Stone Island brand to “lead the second phase of development, focusing on the strategic development of the brand and the growth of its international influence”.