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.

The deal comes at a time when the entire luxury industry is investing heavily in digital services. During the pandemic, luxury companies got rid of past concerns and turned to develop new channels to connect with their customers, thus turning to online options faster.

Led by Regah Ventures, sports luminaries, including New York Giants captain Xavier McKinney, NBA player PJ Tucker and Premier League soccer player Jesse Lingard followed suit.

An exclusive interview with Mr. Bernd Pichler, Executive General Manager of Bentley Motors China, Hong Kong, and Macau.

Nicholas Kirkwood had finally made the decision to shutter the 18-year-old brand after a “wild and exhilarating journey”.

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.”

Norda not only fills the niche market targeted by Zegna Group but also fits the Group’s high-end positioning. 

Bremont’s valuation will exceed £100 million. 

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.