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.
While the Mexican department store group’s overall sales decreased last year due to the pandemic —from $1.7 billion in 2019 to $1.2 billion — it more than doubled its digital business, a press release revealed.
This growth was fuelled by pandemic restrictions, which saw consumers shift their shopping online and prompted Palacio de Hierro to accelerate its digital transformation plans. This included redesigning its online sales platform, strengthening customer service through telephone and WhatsApp sales and expanding its online offering of luxury brands.
Last year — especially during its three and a half month physical closure between March and July — Palacio de Hierro introduced the likes of Saint Laurent, Dolce & Gabbana, Ferragamo, Tiffany, Cartier and Givenchy to its online portfolio.
Chanel, Louis Vuitton and Tiffany & Co are among the brands expanding in Perth, Australia in a bid to tap its mining, oil and gas wealth and newfound status as a travel hub.
This week’s round-up of global markets fashion business news also features Haiti’s sourcing crisis, Brazilian jewellery giant Vivara and Dubai’s Ramadan shopping season.
This week’s round-up of global markets fashion business news also features Supreme’s long-awaited Shanghai flagship opening, India imposes MIP on undervalued imports of synthetic knitted fabric and striking Sri Lankan workers continue to protest.
Imran Amed shares his observations from a trip to the wealthy desert metropolis, home to the most lucrative stores for many of the world’s top fashion brands.