LOW-DESPICABLE
What happened to the New York fashion week?
With more absences on the calendar than ever before, the most exclusive event in the big Apple will miss most of the 90s powerhouse names. From Calvin Klein (done with the runways for now) and Tommy Hilfiger (presenting the new collection in London), to Ralph Lauren who will skip fashion week for the first time in over 5 decades. Even Tom Ford has chosen Los Angeles and the Academy Awards over New York and the fashion week. Looks like red carpets are the new runways. After all what would Fashion Week be without a fashion victim? Even if it’s the week itself…
Burberry vs Coronavirus
The British brand has been forced to close 24 of its 64 stores in China as wealthy Chinese consumers stay away from shops and travel restrictions curb overseas shopping sprees. According to the company, the effect of coronavirus on sales is worse than Hong Kong protests. Moreover, Morningstar’s equity analyst, Jelena Sokolova, predicted the short-term effect of the virus on luxury goods sales would be more severe than the Sars outbreak in 2002-03.
HIGH-BRILLIANT
UNESCO wears Prada
It is exactly what is seems… The greener collaboration of the year! Prada and UNESCO present an educational program dedicated to sustainability, circular economy and ocean awareness. From February to May 2020, 10 high schools throughout the world are taking on green campaigns and eco-friendly projects. More than ever, millennials are the first to feel concerned about the future of the planet. Now they can also fight for it in a fashionable way!
From rich-to-richer
Capri Holdings, the group that owns Michael Kors, Versace and Jimmy Choo, announced on Wednesday that revenues had gone up by 9.2 per cent to $1.57 billion during the third quarter of fiscal 2020. “Noting that Versace’s $195 million in sales came in ahead of expectations”, said CEO John Idol on a conference call with analysts. What’s the brand superpower? An exponential influence on young consumers and the exploitation of celebrities’ fame. Is it winning? Well… How can we doubt it after JLO’s Super Bowl performance?
A Uniq(ue)lo strategy
With its third Delhi store set to open at the end of February, the Japanese brand is investing heavily in the Indian market to win over local consumers in a way other international brands haven’t. Even if, India’s retail market is set to increase to $1.2 trillion by 2021, its geographical diversity and lack of established retail space require brands to navigate the country with a clear plan and ability to adapt quickly to consumer needs. Will Uniqlo accomplish this challenge? Only time will tell.
By Giuliana Madonia
