“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.

Aeffe aims to capitalize on the investment relating to the reorganization of the Moschino brand’s retail distribution in China.

Ferragamo noted that they are quite encouraged by the positive customers’ reaction in China since the restrictions were lifted.

The average daily sales exceeded 350 million yuan, exhibiting an increase of 150 million yuan over the average daily sales before the holiday and an increase of 20.69% compared with the 2022 Spring Festival holiday and 329% compared with 2019.

Levi Strauss & Co. also announced that Harmit Singh’s role has expanded to chief financial and growth officer.

In 2022, the group recorded revenue of € 79.2 billion and profit from recurring operations of € 21.1 billion, both up 23%.

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.