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 — Fashion group Armani said on Thursday all of its Italian production plants would start producing single use medical overalls, in an effort to support healthcare workers in the coronavirus crisis.
The shortage of protective equipment and other medical devices has been one of the biggest problems dogging the Italian health system since the contagion surfaced in the wealthy northern region of Lombardy at the end of February.
The fashion house, run by designer Giorgio Armani, added it had increased to 2 million euros (1.82 million pounds), from an initial 1.25 million euros, the funds it donated to Italian hospitals to help them face the virus emergency.
A consortium of Italian textile and fashion companies, coordinated by business association Confindustria Moda, is soon expected to start producing million of protective face masks, with the aim of making Italy self-sufficient in manufacturing the masks.
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By Claudia Cristoferi; Editor: Giulia Segreti
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.
The group’s flagship Prada brand grew more slowly but remained resilient in the face of a sector-wide slowdown, with retail sales up 7 percent.
The guidance was issued as the French group released first-quarter sales that confirmed forecasts for a slowdown. Weak demand in China and poor performance at flagship Gucci are weighing on the group.