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.
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LONDON, United Kingdom — "I believe we'll dance again and I believe we'll be creative again but how that looks and how that feels... I don't know," Marc Jacobs told BoF Editor-at-Large Tim Blanks in the latest special edition of the BoF Podcast. The designer is currently staying at a hotel in New York, watching as more labels and retailers buckle under store closures and debt.
As American fashion changes rapidly in real-time, Jacobs shared his thoughts on the state of an industry in flux.
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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.