L’Officiel Sold to Hong Kong-Based AMTD International

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The company plans to take a slice of the metaverse space.

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in the coming months. It also revealed the opening of the AMTD x L’Officiel land in The Sandbox, a virtual metaverse. Called “Fashion Skin,” the project will include a collection of metaverse-ready virtual clothing, developed by applying artificial intelligence to L’Officiel’s database of fashion imagery., CEO of AMTD International, added: “AMTD International pride ourselves on innovation and offering leading edge products and services to our clients.

The sale comes at a trying time for L’Officiel, which has been accused of failing to pay freelancers in multiple markets. In the U.S., where it has L’Officiel USA, the situation has culminated in it being sued by the City of New York., L’Officiel claimed that it made a formal settlement offer to the City of New York in December and is “currently in discussions with the city to finalize a settlement.” A spokesperson for the City of New York did not immediately respond to request for comment.

In the suit, the city argued that the affected freelance workers, and the city as a whole, have suffered injury as a direct result of L’Officiel’s actions and that the city is entitled to injunctive relief, civil penalties and any other appropriate relief, while the injured freelance workers are entitled to recover double damages.

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