The 13th issue of the Luxe.CO China Investment Weekly for 2023 includes four investment and financing news articles that occurred in China from May 20, 2023, to May 26, 2023.
Global luxury goods giant Kering has relocated its new headquarters in Italy to Milan, affirming Italy’s expertise and knowledge in the fashion industry.
On May 29th, 2023, Luxe.CO Tong released a total of 61 news updates, consisting of both text and images. These updates covered 66 brands, 11 commercial establishments, and spanned across 14 cities.
The North Face brand achieved outstanding performance in the Greater China region during the fourth quarter, with sales increasing by nearly 40%.
The two companies will collaborate to develop eyewear retail business in the Gulf Cooperation Council (GCC) region.
Gruppo Florence has built a large production conglomerate through acquisitions, currently comprising 26 companies. In 2022, the group achieved a total revenue exceeding €600 million.
“We’re going to stay a private, independent company. Rumors always float around, but you can put those to rest.”
In the first quarter, The RealReal’s strategic focus on higher-margin consignment business has started to yield results. During the first quarter, consignment revenue experienced a 22% YoY growth, while direct revenue saw a decline of 49% YoY.
Giorgio Armani, the founder, concluded, “The medium-long term strategic path I have chosen to undertake continues to prove effective as is evidenced in the results.”
For Fiscal 2024, the Company expects revenues to increase approximately low-single digits to last year on a constant currency basis.
