Besides, the company was given the Double A rating for climate and water for the fourth consecutive year by CDP (Carbon Disclosure Project).

Chairman, President and Chief Executive Officer Tim Boyle noted, “Financial performance could have been even higher, absent supply chain constraints.”

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.

For the outlook, André Hoffman, the Vice-Chairman & Chief Executive Officer of L’Occitane noted:“The strongest of the current headwinds are likely to prove short-term. We remain optimistic about our long-term strategy.”

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

“After my recent trip to Greater China, I am optimistic about China’s reopening as we are witnessing a rebound in our business and the industry at large.”

“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.”