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.
Rome-based Valentino flagged “early positive results” starting from the fourth quarter last year as the brand registered its final figures for 2020 with Italian authorities.
Sales fell 27 percent to €882 million ($1.1 billion) last year as Valentino was “strongly penalised” by the coronavirus crisis, the company said. Earnings swung to a net loss of €127 million, compared to a €33 million profit in 2019.
Under chief executive Jacopo Venturini, who joined from Gucci last June, the brand is currently trying to reinvigorate sales, leaning on hit items like its “rockstud” line as well as phasing out the wholesale-driven “Red” sub-brand.
While the campaign doesn’t yet feature products designed by Lee, the release signals Burberry is getting a complete creative overhaul under the stewardship of Yorkshire-born designer and new CEO Jonathan Akeroyd.
The outerwear giant’s London Fashion Week outing will also showcase new collaborations with Adidas, Alicia Keys and Pharrell Williams in a bid to broaden the initiative’s reach.
New York’s schedule is short on surprises as brands play it safe in an uncertain economy. Plus, what else to watch for this week.
This week, Ssense said it laid off 138 workers, and MatchesFashion received a $73 million cash injection from its shareholder. From more niche players to giants like Farfetch, the pressure remains high for luxury e-tailers.