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.
Fashion stores in eight regions, home to major cities including Paris, Lille, and Nice, will remain closed for at least a month during the country’s third shutdown for businesses deemed “non-essential.” In a statement Monday, the womenswear trade association Fédération Française du Prêt à Porter Féminin said the fashion sector had been “abandoned” by the government, and warned economy minister Bruno Le Maire that without additional support many fashion businesses would not be able to bounce back.
The French lockdown announced Thursday concerns roughly one-third of the country’s population and is aimed at slowing the spread of coronavirus as rollout of the vaccine fails to keep up with new cases and hospitalisations.
French fashion sales fell by 15 percent last year, the trade group said. Several of the country’s high street brands, including Naf Naf, Camaieu and André, filed for bankruptcy during the year.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.