The luxury goods sector could shrug off the hit from the coronavirus crisis as early as this year as Chinese and U.S. shoppers help sales recover to pre-pandemic levels, consultancy Bain said on Monday.
The owner of brands including Umbro and Lee Cooper announced Q1 revenue of $23.6 million on Thursday, representing a 15% year-over-year decline, largely due to a 41% decrease in the company’s women’s segment.
South African conglomerate Steinhoff said on Friday it had set the price of shares in discount retailer Pepco at 40 zlotys (8.8 euros) in its Warsaw listing, giving the company a market capitalisation of 23 bn zlotys.
Amanda Wakeley is the latest UK fashion firm to collapse due to pressures created by the ongoing pandemic. The firm announced Friday that it had gone into administration with some jobs being cut as a buyer is sought.
Farfetch has reported another big leap forward in terms of gross merchandise value (GMV) and digital platform GMV as it continues benefit from consumers shifting online both generally and due to the pandemic.