Tapestry financial statements over the third quarter of the year got in the red. In fact, the US group’s revenues have been dropping by 19.4%, slightly below analysts’ expectations. Yet, loss turned out to be much more considerable. The holding company, which is in control over Coach, Kate Spade and Stuart Weitzmann brands, has not […]
They shut some manufacturing plants because they turned out to be the main site of virus outbreak. Others are going through heavy difficulties. Some more are about to reopen. Speaking plainly, meat is on tilt. Slaughterhouses all around the world are striving to limit Coronavirus risks and deal with the situation accordingly. Yet they must...
Vikings were up to leather trade. Some researchers from the University of Cambridge and NTNU University Museum, Norway, have recently published an article focusing on the analysis of a number of finds rediscovered in the very far North: specifically, in the mountain pass above Lendbreen, in the Svalbard Islands. In the middle of the Arctic […]
Leather durability brings us back a 3,500-year-old game. Only leather could tell such a story. In fact, right thanks to leather durability we could preserve an Egyptian tool, dated back to 3,500 years ago, which has now come back to us. On April 24, a group of Hispanic and Egyptian archaeologists, led by Professor José […]
The positive note that comes from the People’s Republic is that online sales are increasing. The negative one is that brands cannot put too much faith in the shopping wants of Chinese consumers: revenge spending isn’t much. While the world is still influenced by the Coronavirus, the luxury industry is looking towards the East with […]
Luxury Phase 2 is at a slow pace. LVMH brands are simplifying production, and it could not be any different. After a lockdown quarter, when shops were closed condemning a collection to remain practically unsold, the French conglomerate cannot afford to further accumulate goods in their warehouses. Toni Belloni, general manager of the group, explains […]
Whether you make a purchase online or in a store. Whether you are in a Los Angeles or Shanghai store. A Mulberry accessory will have the same final price to the consumer. The British fashion house announces the ticketing revolution: Mulberry harmonises prices on a global scale, also absorbing VAT, duties and any local taxes. […]
SMCP, the first quarter at -20.4%: the second will be even worse With 82% of stores currently closed but with “encouraging signs of recovery in China”, SMCP closes the first quarter with a 16.7% drop in sales at current exchange rates and 20.4% on an organic basis. The result is in line with the group’s […]
Russia, the virus blocks Obuv spring-summer: back to it in 2021 The virus blocks Obuv: spring/summer 2020 edition is definitely cancelled. We will talk about it again in 2021. The law for compulsory labelling could slip to the following year. In Russia, footwear awaits better scenarios, and in the meantime takes steps to not afflict […]
We can call them asymmetries in the mass market. Fast fashion in the UK is in crisis: the lockdown caused by Coronavirus has flattened business. Who pays the consequences of this outcome? Bangladesh’s clothing supply chain, which has lost orders worth circa 2.75 billion euro (estimated) and is quickly going down a very difficult path....
The Coronavirus pandemic in India is putting pressure on an industry that was already struggling. The lockdown is killing off the local leather segment. Businesses shut down, so orders stopped. Now that in the rest of the world businesses try to reopen or planning to, orders have been placed to India’s segment. But they are […]
Let us see what is going to change and the way things are going to change. By reason of the announcement of Italian Prime Minister Giuseppe Conte, made public last night and ratified through a DPCM (Government Decree), on 26 April 2020, Italian leather reopens. Yet some explanations are necessary. That is why UNIC – […]
In 2020 first quarter, Hermès sales decreased to a limited extent in the end. On the other hand, the French brand well knows that the worse is yet to come. Nonetheless, from January to March, unlike many “competitors”, Hermès did not lose much ground “thanks to artisan model solidity”, pointed out executive president Axel Dumas (in the picture […]
“We are concerned because several small enterprises are going through heavy difficulties: some of them run the risk of shutting down”. Claudio Luti, president of Federlegno-Arredo, speaks plainly: design is on its knees. Italy’s manufacturing industries need to start again, as soon as possible, to get over Coronavirus outbreak and its detrimental effects. Undoubtedly, scars caused […]
Argentina’s leather industry amid protests and positive messages. The Ministry of Labour made a public statement about the lawsuit, currently underway, between Donto tannery and 17 of its employees. The factory, closed due to health emergency, had fired them. They will have to take them on again. In the meantime, the Matanza Riachuelo Drainage Authority...
Money funds raised through fines tanneries must pay might be allocated to their workers. Employees working in the leather industry companies asked Bangladeshi government to make such decision. In 2017, they formerly created a fund whose primary aim was to support tanneries’ blue-collars. Yet now, because of Covid-19 and its heavily detrimental effects, workers call […]
VF Corp are pessimistic. The US group (business owner of Vans, Timberland and The North Face) made public a few “preliminary, disappointing estimates as to their annual financial statements, closedlast March 28”. After withdrawing forecast regarding the current business year, the group, headquartered in Denver, put up for sale their work wear activity. Besides that, they decided to […]
In the first financial quarter, Saucony turned out to be Wolverine’s best brand. Nevertheless, the revenues of the US group have been decreasing by 15.6% compared to the previous year. As regards profitability, it proved better than expected. The American company, which expects things to get even worse in the second quarter, has shaken up its […]
To be precise, Celine, Fendi and Bulgari were never completely closed, because in the weeks of the Coronavirus emergency they have dedicated themselves to the production of masks and sanitising gels. Now the whole LVMH family is ready to reopen in Italy. Gradually, of course, and it varies according to the territories. But quickly. General […]
Bottega Veneta takes off while Gucci loses ground. In summary: -15.4% revenue (at current rates) for Kering’s first quarter of 2020. “The Covid-19 pandemic has had a heavy impact on our operations during this first quarter. We took immediate steps to guarantee the security and wellbeing of all Kering’s employees around the world, as well […]
