March 24, 2020
Luxury Daily's live news:
Neiman Marcus Group said to mull bankruptcy as US retailer struggles with debt, COVID-19 shutdowns
The coronavirus-induced closures may be the straw that broke the camel’s back for debt-laden Neiman Marcus Group, one of the most storied department store chains in the United States and a key channel for luxury fashion and leather goods brands.
Gucci relaunches mobile app infused with the spirit of Alessandro Michele
Italian fashion label Gucci has given a complete makeover to its mobile app, undaunted by the gloom and panic surrounding the COVID-19 coronavirus.
Nordstrom takes extra steps to fortify balance sheet as retail shutdown continues
Nordstrom Inc. has taken additional precautionary measures to strengthen its financial position as the U.S. department store chain confronts the uncertainty in the world’s largest luxury market over the COVID-19 coronavirus pandemic.
India announces 21-day lockdown as COVID-19 measure, dealing blow to already-weakened economy
India has announced a national lockdown for three weeks, a move than comes less than 24 hours after the United Kingdom initiated a similar response to curbing the spread of the deadly COVID-19 coronavirus.
Mall traffic started dropping in early March ahead of lockdowns
Foot traffic to shopping malls was dropping as early as the first week of March, signifying a major slowdown for luxury retailers even before the coronavirus shutdowns were being felt across the United States.