March 27, 2020
Luxury Daily's live new:
LVMH expects first-quarter revenue to drop 10-20pc over COVID-19 measures
French luxury conglomerate LVMH has warned that revenue in the first quarter of this year will fall between 10 percent and 20 percent as the COVID-19 coronavirus outbreak has stalled retail and manufacturing operations.
4 questions for CEO Jean-Christophe Babin on Bulgari’s lending hand to Italian authorities
Jean-Christophe Babin, CEO of LVMH-owned Bulgari, takes questions on the jeweler's steps to help while Italy tackles its healthcare crisis.
Net-A-Porter suspends operations in US and Europe, keeps Asia Pacific open
As is quite clear, coronavirus-induced national lockdowns are now affecting operations of warehouses funneling into the ecommerce operations of major retailers. Now Net-A-Porter joins their ranks.
Zegna family, management to chip in $3.3M for Italian anti-COVID-19 effort
Italian fashion giant Ermenegildo Zegna Group is joining its peers in philanthropic efforts to help Italy’s government and health authorities arrest the spread of the COVID-19 coronavirus.
Luxury business, while resilient, likely to contract $66B to $77B in 2020
That percentage drop of 22 percent to 25 percent is the combined revenue of what the two largest players in global luxury generated last year: $59.1 billion for LVMH and $17.4 billion for Kering.
New US SHOP SAFE bill holds online platforms liable for counterfeits. Next steps luxury brands must take
U.S. law has made it very difficult to hold online platforms liable for sales of counterfeits.