The pandemic’s lasting effects on luxury fashion

Mainland China becomes the focus, e-commerce increases in importance and sticking to seasonality seems like a weakness. Brands are pointing to mainland China, where they hope shoppers that would otherwise be travelling might be convinced to spend more on luxury at home. Given concerns about visiting stores are likely to linger, e-commerce and digital platforms are more key than ever to luxury brands. Speaking with analysts in April after the company’s first-quarter financial results for 2020 were announced, Moncler chief executive Remo Ruffini said the first few months of 2020 “will be remembered as the watershed between the before and the after”. Read more…