Who killed the US retail system? Not the virus, but Private Equity The temptation would be to assume that the US Retail Apocalypse was mainly caused by the Coronavirus. Of course, the lockdown was the final straw for the segment. But it was the final hit. The question of who killed the US retail? would...
The real phase 2 for high-end Italian products can only really begin with luxury tourism. Leonardo Ferragamo, son of Salvatore and manager of the high-end group, is sure of it. So sure, inf act, that he suggested the government creates an ad-hoc ministry, which always according to him is the only way to show that […]
Covid-19 has nothing to do with the increase in prices, CHANEL assures. Instead, it does a little. The news that the luxury brand is preparing to retouch the Chinese price lists surprised everyone. Starting with the consumers of the People’s Republic, hurried to shop before the adjustments of price tags. But from the upper floors […]
The company is going to reduce the number of accessories, available for sale, in order to contain outstanding stocks. Besides that, they will enhance and develop the online channel. Yet, most of all, Diego Della Valle calls for “much prudence”. At the end of 2020 first quarter, Tod’s Group revenues have dropped by 30%. They […]
“Our proposals are not ridiculous nor outrageous – pointed out Shira Sue Carmi, Chief Executive Officer of Altuzzarra and signatory of the appeal petition –: speaking plainly, they are simply based on common sense”. “It is impossible to illustrate and explain how fashion actually works to people who are not into it – remarked, as […]
It would be the time to bring the debate on fast fashion back to the fast fashion sector. The financial note published by H&M in early May testified to the crisis of a business model based on physical distribution. But the boom of Zara reopening in France tells us that the most important battle still […]
Too many collections? Fashion shows in Milan? What will change in fashion? Domenico Dolce, Stefano Gabbana and Pierpaolo Piccioli, Valentino’s creative director, confront each other remotely, addressing questions about fashion. Expressing different observation points. Emblematic is their comment on Giorgio Armani‘s decision not to have its fashion show in Paris, but in Milan, to support...
Net revenues amount to around 8.9 billion euros, therefore increasing by 27.3%. Estimated gross profits amount to 1.15 billion euros: they have risen by +24.6% compared to the same period of 2019. Finally, as regards EBITDA, earnings reached over 600 million euros, therefore growing, +22.6%, compared to last year. While examining the company’s financial results, […]
Slaughterhouses are closed and meat production has dropped by 9.2%. In the meantime, the prices of raw hides have realigned. The pandemic, caused by Coronavirus outbreak, is actually bringing about a number of complicated situations and repercussions on Brazil’s markets. In April 42 meat-manufacturing companies suspended their activity to limit infection rates: consequently, meat production […]
Of course, Coronavirus epidemic is a health crisis, which triggers a social one. But, according to Re Giorgio, it is also an opportunity for the top of the range “while waiting to return to normal”, to reflect “on past mistakes, trying to build a better future”. Yes, because according to Armani luxury has been declining […]
A new air filter: this is how the German tannery Pro Tannery solves neighbourhood problems. The company from Weida, a city in Thuringia, will soon install a new device to reduce the emission of bad smells. City residents are pointing their fingers at the tannery, complaining about the spread of miasmas. But the heads of […]
Safety in the workplace, stability in international relations, support for demand. The automotive industry, from production to the end market, has been “hit hard” by the crisis triggered by Coronavirus. This is why the 25 proposals from European manufacturers are now coming to ensure a solid restart of the sector. The document is signed by […]
To define the presentation formula for the next Spring Summer collection, Ermenegildo Zegna coined the term “phygital”: because it will occur in a combination of physical spaces and digital environments. Milan, Paris, London: fashion weeks worldwide are moving in the same direction, circumventing the restrictions imposed by social distancing with online solutions. It is the […]
There are some positive signals, such as the “resilience of the accessories segment” and the liveliness of Chinese consumers. But that’s pretty much it. Brands can’t count on revenge spending too much: no V-shaped recovery seems to be taking place, while a quicker bounce-back was expected. The Coronavirus pandemic left the luxury industry in crisis: […]
They have been proving sensitive to France’s financial problems, not to Italy’s ones though. In fact, in their home country both Kering and LVMH eventually decided not to resort to social security cushions: they did not want to overburden French public accounts with additional expenses. Conversely, in Italy, where they currently run a deeply rooted […]
Mexico’s footwear and leather industries are rather pessimistic. In fact, due to the pandemic, caused by Coronavirus outbreak, almost the whole of Mexico’s footwear manufacturing companies are currently facing a downturn in revenues. Earnings have gone considerably down, -50%, for many of them. The same applies to leather tanning enterprises, which have been shut for […]
HTL International have submitted an application for bankruptcy. As reported by straitstimes.com, the home furnishings manufacturing company, headquartered in Singapore, is rather close to collapse allegedly. Reportedly, HTL do not manage to face up to the market crisis brought about by Covid-19 detrimental effects. HTL International have filed an application for bankruptcy The company, founded […]
The impact of Coronavirus on Italian fashion now has a number. 2020’s CRV has caused companies to lose about 36.2% of revenue on yearly base on average. If that wasn’t enough, the segment lost circa 40.5% of its usual orders. The research study was conducted by the Centro Studi of Confindustria Moda, as it photographs […]
There is no shortage of negative news for Tapestry: for example, it expects up to 1 billion revenues less in the April-June period. But there is also a good one: as the lockdown is over, the Italian tanning reopens, together with Spanish suppliers. In the midst of Coronavirus tussle, the US group is experimenting with […]
Preparations are underway with the presentation of the new campaign. Micam confirms the fairytale setting presented last February. With shots and short-films by Fabrizio and Daniele Scarpa, it maintains the Alice in Wonderland theme. Meanwhile, the presentation of the campaign has an added value. Micam, the international reference fair for the footwear market, believes in […]
