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.
Later this month, the fashion house will unveil an interactive space in the Chinese fashion capital’s Power Station of Art, in a move to further engage with customers in the world’s biggest fashion market.
A growing number of brands are turning to China in a bid to boost sales as other markets struggle to recover from Covid-19. Valentino follows in the footsteps of players like Chanel, Louis Vuitton and Tiffany, which have held exhibitions and interactive experiences in Shanghai in recent years.
The project, entitled Resignify Part One: Shanghai, will aim to attract new audiences to Valentino by immersing them in its brand story and house codes under creative director Pierpaolo Piccioli. It will run from December 19 to January 17, 2021.
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.
Consumers face less, not more, choice if handbag brands can't scale up to compete with LVMH, argues Andrea Felsted.
As the French luxury group attempts to get back on track, investors, former insiders and industry observers say the group needs a far more drastic overhaul than it has planned, reports Bloomberg.