The San Francisco-based fashion subscription service reported lower than expected Q2 net sales of $504.1 million on Monday, up 12% year over year from $451.8 million. The company’s quarterly net loss was $21.0 million.
The American luxury brand has deactivated its DVF Link online rental subscription service as part of streamlining efforts being implemented as the company prioritizes the launch of its new e-commerce platform.
The company's revenues fell from 2.37 billion euros to 1.84 billion euros in 2020. Online sales grew 36% year over year to 766 million euros, representing 42% of total revenues, while EBITDA came to 193 million euros.
The online edition of the Parisian textile/apparel trade show recorded a strong rise in audience compared to last autumn. Its next physical edition, originally planned for July 2021, will be held instead in September.
Intertextile, Yarn Expo, Chic and PH Value, scheduled in Shanghai on March 10-12, have been postponed. FashionNetwork.com has learned the possible new dates are March 17-19, if the authorities give the green light.
Health protection measures are once again preventing Paris’s trade shows from being held regularly. WSN’s joint event scheduled in early March has been cancelled, and only a reduced Première Classe show will be staged.