The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
THE CHEAT SHEET
The Rich Get Richer
A Gucci employee measures the temperature of a customer at a store entrance | Source: Getty Images
The Bottom Line: LVMH has the scale and global clout to consolidate their market position during the crisis. Some of the brands reporting next week, including Kering's Gucci is among a handful of others that can likely do the same. Less clear is whether smaller luxury brands will be as successful at shielding themselves from Covid-19's economic fallout.
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Brexit Is Back
A Brexit protest | Photo: Justin Tallis/Getty Images
The Bottom Line: All that said, it's premature to take the latest round of threats and recriminations at face value. From the outset, progress toward an orderly exit from the EU has come only under intense deadline pressure. So while the Oct. 15 deadline has come and gone, the true contours of Brexit will only begin to take shape in the coming weeks.
Raf Simons' Other Big Debut
Raf Simons Autumn/ Winter 2020 | Source: INDIGITAL.TV
The Bottom Line: Simons joins a growing number of major designers and brands who are showing at a time that fits their schedule, rather than the industry calendar. As one of the most famous designers working today he won't have trouble generating buzz around whatever he sends down the runway.
SUNDAY READING
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The designer has always been an arch perfectionist, a quality that has been central to his success but which clashes with the demands on creative directors today, writes Imran Amed.
This week, Prada and Miu Miu reported strong sales as LVMH slowed and Kering retreated sharply. In fashion’s so-called “quiet luxury” moment, consumers may care less about whether products have logos and more about what those logos stand for.
The luxury goods maker is seeking pricing harmonisation across the globe, and adjusts prices in different markets to ensure that the company is”fair to all [its] clients everywhere,” CEO Leena Nair said.
Hermes saw Chinese buyers snap up its luxury products as the Kelly bag maker showed its resilience amid a broader slowdown in demand for the sector.