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.
MILAN, Italy — Italian designer Giorgio Armani has donated €1.25 million ($1.43 million) to four hospitals and the national Civil Protection Agency to help tackle Italy's coronavirus outbreak.
In just over two weeks the number of recorded cases in Italy has surged to 7,375 with 366 deaths, straining the health system.
Antonio Pesenti, head of the Lombardy regional crisis response unit, said the region's health system was "a step away from collapse" as intensive care facilities came under growing pressure from the new cases.
On Sunday, the government imposed a virtual lockdown on the northern region of Lombardy and parts of neighbouring Veneto to try to curb the spread of the virus in Italy, the hardest-hit country in Europe.
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Armani donated through his fashion group €1.25 million to three Milan-based hospitals and Rome's Spallanzani hospital as well as the Civil Protection Agency, a company spokeswoman said on Monday.
The group had revenues of €2.1 billion in 2018.
The majority of employees of the Milan-based group are working from home and its production sites are operating with as few people as possible, the spokeswoman said.
By Claudia Cristoferi; editors: Janet Lawrence.
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.