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
Travellers wearing protective masks | Source: Getty Images
Coronavirus Shuts Down Italy's Fashion Capital
Italy's unprecedented decision to seal off much of its northern region will have an immediate and sweeping impact on luxury fashion. Millions of people will be prevented from leaving the region and encouraged to stay home as much as possible. The impact is twofold: numerous global brands, including Versace, Prada, Armani and Dolce & Gabbana, are headquartered in the region, and will need to find workarounds while balancing the safety of their employees. How the quarantine will affect production is not yet known. Italy's Veneto region is a key manufacturing centre, producing textiles for brands like Diesel, eyewear for companies like Luxottica, and luxury shoes for brands including Louis Vuitton. The Camera Nazionale della Moda Italiana estimates that Italian fashion industry turnover hit €66.6 billion in 2018. The industry also relies on the region's artisans to supply leather goods, footwear and other luxury items.
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The Bottom Line: Drastic quarantine efforts appear to have slowed the spread of coronavirus in China. However, they come at a steep economic cost; plunging stock markets in the US, Europe and Asia are a sign that investors are bracing for a severe downturn.
JW Anderson's Big Year Gets Bigger
JW Anderson Autumn/Winter 2020 | Source: Indigital
Aerie Takes Flight
Aerie is growing fast, challenging Victoria's Secret with its body positive messaging | Source: Instagram/@aerie
The Bottom Line: Victoria's Secret's sales may be in decline, but it isn't going down quietly under new owner Sycamore Partners. Its spring campaign, built around women of different ethnicities and body types, should look familiar to ThirdLove fans. With over 1,000 stores and 20 percent of the US market, it can put more marketing firepower behind its updated messaging than all of its digital competitors combined.
SUNDAY READING
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