Consumers are continuing to buy luxury items during the international lockdown with online sites in Britain seeing particular interest in designer handbags and expensive sneakers, a report said on Tuesday.
Like many brands, some luxury labels are producing online content to dispel the gloom in these times of isolation, for example Bottega Veneta with a multi-media project, and Salvatore Ferragamo with a trivia quiz.
The Modist has closed its doors, not just for the duration of the global lockdown, but permanently. The modest fashion luxury e-tailer said that it’s ceasing operations having taken a huge hit due to Covid-19.
Fenwick has been struggling for some time and with its shops now closed and it's still-young online operation also not functioning, the family that owns the retailer has ousted its chairman and managing director.
Fashion houses have begun reaching out to their massive global communities via social media to encourage creativity at home, healthy living and inter-connectivity during the global lockdown caused by coronavirus.
The massive impact of Covid-19 on tourist spending was made clear this week as international payments provide Planet issued figures showing the economic impact of the virus on European retail during February.
EssilorLuxottica is suspending its dividend due to the coronavirus pandemic, it said Monday, adding its annual shareholder meeting has been delayed and its Essilor chief executive officer, Laurent Vacherot, has retired.
There is nothing like a centenary to focus attention on a brand, especially one on the mend, like Fogal, considered by many as the nec plus ultra of legwear. A brand poised for a notable renaissance, post-coronavirus.