Burberry’s trading has fallen between 40 percent and 50 percent in the last six weeks due to the impact of COVID-19, the company said in an extraordinary trading statement on Thursday.
The company is expecting comparable retail store sales in the final weeks of the year to be within the range of minus 70 percent to minus 80 percent. This follows the significant escalation of governmental regulations; trading, travel and social restrictions in recent days, "and the inevitable impact this will have on demand; Burberry said.
As a result, the British luxury brand now expects fourth-quarter 2020 comparable retail store sales to be around minus 30 percent in the fiscal year ending March 28. “Since our February update, the material negative effect of COVID-19 on luxury demand has intensified and is now impacting the industry in all regions, said Marco Gobbetti, chief executive officer.Our primary concern is the global health emergency, and we continue to take every precaution to help prevent the spread of the virus and ensure the safety and well-being of our employees, partners and customers. Continue reading
Less than 24 hours after confirming that it would continue trading, but with shorter opening times, Selfridges is temporarily shutting all of its U.K. stores due to coronavirus.
France has unblocked 45 billion euros in emergency aid for companies and workers whose revenues are impacted by the government-mandated lockdown to fight the coronavirus outbreak, Finance Minister Bruno Le Maire said on Tuesday.
The restaurant, called Park Row, will be located in the heart of London on 77 Brewer Street, near Piccadilly Circus, and is set to open its doors in spring 2020.
One of the strangest fashion months on record has drawn to a close, but mounting cases of Covid-19 in cities from New Delhi to Madrid have already taken their toll on luxury brands’ plans to stage Cruise 2021 shows.
Add Hermès to the growing list of fashion brands canceling events due to the coronavirus. The French fashion house has nixed its resort show, which had been scheduled to take place in London on April 28.
Clothing retailer French Connection reported a full-year loss on Tuesday, citing difficult trading conditions on UK’s high streets and said it would continue to hold back paying dividends this year.
The luxury conglomerate, which reported record revenue of nearly $60 billion for 2019, is setting its sights on affordable, “clean” beauty via its investment arm, LVMH Luxury Ventures. In an unlikely pairing, the fund invested in Versed, a fast-growing mass label where most products are priced at or below $17.99, and some under $10. The brand recently closed an $11 million Series A, led by Sonoma Brands with participation from Greycroft and Marcy Venture Partners.
Givenchy, whose perfume business is said to be riding high, has tapped a new president and chief executive officer with experience in fashion and beauty, Renaud de Lesquen, currently president and ceo of Dior Americas, is to join Givenchy on April 1 and it is not a Joke.
This is a more than revolutionary idea, an idea of Francis Menuge, former President of Gaultier and Donald Potard with the complicity of Jacques Mouclier, which they had in their time. A project, which due to the lack of the house of Patou, had never come to fruition because of a sort of human counterfeit. This is how fashion men are made. With such an oversized ego, they take over other people’s ideas to take credit for them. Like D Grumler who takes credit for the creation of the investment bank: idea and realization of Jacques Mouclier, or this Mr. “J Tongue of wood” who would have had the idea of the square courtyard of the Louvre for the catwalks of Haute Couture, but in reality, idea to be attributed to Pierre Berger and Jacques Mouclier.
Satoshi Kondo, Creative Director at Issey Miyake, conceived his collection by the onomatopoeic analysis of Japanese words that describe acts of making processes. Toritori (the state of being different), Konekone (kneading), Goshigoshi (smudging), Kukkiri (the condition of being sharp and clear), spah (the sound of cutting something with a sharp object) are some of the words that are used in the colloquial language to describe these manual actions, and that the designer used to create the collection. 
“But I’m Kanye’s cousin,” said a woman in French at the gates of the Oscar Niemeyer Communist Party headquarters, as the building blinked bright white with light tests. To no avail: Unless she’d been in the car with North West (the real star of the evening), or was on the list, the putative cousin wasn’t getting in on Monday night for the Yeezy 8 show.
On Monday, organizers of Tokyo Fashion Week announced that the fall season of Japan’s largest fashion event had been cancelled. It was scheduled to run for six days, from March 16 to 21. The announcement comes after several individual brands, including Hyke and Vivienne Tam, had already called off their Tokyo shows.
Nadège Vanhee-Cybulski decided to pare the women’s wear back to a graphic essence. In keeping with the Hermès 2020 theme, “Innovation in the Making,” she presented a “manifest of purity,” as she called it, on a set of striped vertical bars reminiscent of horse jump poles.
Flashy chain mail knights: no, we’re not in Domrémy and we’re not going to push the English out of the conciergerie. A place probably rightly chosen by Julien Dossena, given my neighbors who do not detonate with the concierges on the nearby rue St-Denis.
The cocktail celebrating the 20 semifinalists for the LVMH Prize for Young Designers is the latest event to fall victim to the coronavirus scare.
Claudia Marcocci has been appointed brand general director of Parfums Christian Dior.
Breaking news: Raf Simons is the new co-creative director of Prada. He is to work in partnership with Miuccia Prada “with equal responsibilities for creative input and decision making,” the company said Sunday.