European resale specialist Rebelle said this week that sustainability is the main reason for many consumers buying secondhand and that the Covid-19 crisis has boosted demand for luxury investment pieces.
After being forced to halt production for weeks, the luxury industry's supply chain is slowly restarting in Italy and France. The system has been battered by the Covid-19 pandemic, with many sub-contractors struggling.
Italian luxury group Tod’s warned on Thursday that it was difficult to forecast the impact of the spreading coronavirus after 2019 core profits beat market expectations despite ongoing investments to support sales.
Faced with the increased containment measures implemented against the coronavirus, Gucci has announced the closure of its factories for eight days. LVMH is keeping its sites open, albeit with specific restrictions.
Japanese label Mame, by designer Maiko Kurogouchi, kicked off Paris Fashion Week with a collection that interpreted Japanese manufacturing in a poetic and wearable manner, making for an emotional show.
The Prada group’s label targeting younger consumers has appointed Benedetta Petruzzo, formerly with the Kering group, as its new CEO. She succeeds Maria Cristina Lomanto, who left last summer to join Roger Vivier.