Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros this year, their largest ever drop and first since 2009, due to the fallout from the coronavirus pandemic, consultancy Bain said on Wednesday.
Hot on the heels of Moncler revealing its strong showing in the new Dow Jones Sustainability Index (DJSI), Burberry said it has been included in the ranking for the sixth consecutive year with its highest ever score.
Gucci debuted its fashion TV series on Monday evening, featuring its latest collection, an online innovation entitled Ouverture of Something That Never Ended, jointly directed by Alessandro Michele and Gus Van Sant.
Farfetch is rarely out of the news these days and it’s currently making headlines with its Q3 results. It's still loss-making, but appears to be riding the wave of the "paradigm shift in favour of online luxury".
Jewellery giant Pandora won't be closing any of its thousands of stores permanently as a result of the business downturn due to the pandemic. Its CEO said the business needs a seamless mix of online and offline.
The company managed to decelerate declines in its Q2 revenues, which totaled 2.82 billion euros, down 30% from the prior-year period, results announced as the retailer implements ERTE furloughs around Spain.