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.

Burberry said its near and medium-term targets “remain unchanged as we continue to target high-single digit revenue growth with operating leverage ensuring good margin progression.”

In APAC, Q3 revenue declined 4% due to China, partly because of the Covid impacts.

As of December 31, 2021, Stella McCartney’s turnover increased by 14% year-on-year to 32.5 million pounds, gross Profit rose 17% year-on-year to ￡23.8 million.

Worn’s buyers and sellers will be onboarded onto the Sellier platform as part of the deal, growing the latter’s business by around 25 percent in the coming year.