THE CHEAT SHEET

Farfetch's Pandemic Bounce

Farfetch reports second-quarter results this week | Source: Shutterstock

• Farfetch reports second-quarter financial results on August 13
• Unlike many of the brands it carries, the online luxury marketplace has seen strong sales as consumers turn to e-commerce during pandemic lockdowns
• Farfetch has yet to turn a profit; management says it's on track to be in the black next year

The Bottom Line: Farfetch has shown it can grow sales — now it needs to demonstrate it can turn a profit too.

What's Next for Tapestry?

A Coach pop-up store | Source: Courtesy

• Tapestry CEO Jide Zeitlin resigned last month amid allegations he had entered into an inappropriate relationship with a woman years before
• The company is on its third CEO in less than a year, and has replaced all of its brand heads as well
• Sales and profits are expected to be down sharply due to the pandemic, though the company said results should be better than initially feared 

Live Before a Studio Audience, It's Copenhagen Fashion Week

Models at Ganni's S/S 20 show in Copenhagen last August | Source: Yuliya Christensen/Getty Images

• Copenhagen Fashion Week, which runs August 9-12, will include a mix of digital content and shows in front of live audiences
• A few brands, including Valentino, Jacquemus, Etro and, last week in Shanghai, Louis Vuitton, have staged physical shows with live audiences since the peak of the pandemic
• More designers are expected to stage live shows at European fashion weeks in September

After the mostly digital free-for-all in Paris and Milan last month, Copenhagen's schedule this week marks the first attempt to stage something akin to a conventional fashion week. The organisers are taking a "no rules approach" in terms of format. A handful of the roughly 30 brands showing are planning fully live shows with audiences. However, many others are expected to include some sort of physical component along with digital videos and live streams.

Denmark has largely reopened, making the logistics of holding fashion events easier than in locations where the pandemic is a bigger threat (though audiences for shows will be limited to a few dozen mostly local guests). The lack of international attendees is a major hurdle, only likely to be faced by designers in New York, London and beyond next month. Weak engagement with last month's digital shows is a sign that designers still need a critical mass of celebrities, buyers and editors in the room to generate buzz and make a convincing case for fashion week. The fight for attention is nothing new for Copenhagen, a regional fashion week that sometimes operates in the shadow of Paris, London and Milan. Organisers say they're planning for each designer to hold a Q&A, and a series of talks on sustainability, racism and other topics will take place alongside the shows.

The Bottom Line: In addition to showcasing Scandinavian designers, Copenhagen should provide a good test run for September, when major fashion capitals plan to host physical shows, presentations and events for the first time since the lockdowns. 

SUNDAY READING

Professional Exclusives You May Have Missed: 

• Luxury brands are neglecting some of their most important customers. Why?
• No tourists, no commuters, no customers: thinking beyond the shopping district.
• Selling fashion to the 1% during a pandemic.
• How "buy now, pay later" became fashion's go-to during the pandemic.
• The contemporary market needs a rebrand.
• Independent brands must change their business strategies.

The Week Ahead wants to hear from you! Send tips, suggestions, complaints and compliments to brian.baskin@businessoffashion.com. 

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