Burberry lost almost £1 billion off its market capitalisation on Monday, following the announcement that CEO Marco Gobbetti is to leave, as worries over who will continue to lead its strategic transformation surfaced.
Salvatore Ferragamo is in negotiations with fragrance group Interparfums, which produces perfumes for brands including Coach and Jimmy Choo, about a licensing deal for the development of its own fragrances.
The stock market is bullish, the economy is recovering, consumer confidence is growing: all indicators are positive, fuelling luxury purchases on a North American market that is highly dynamic and promising for labels.
The luxury goods sector could shrug off the hit from the coronavirus crisis as early as this year as Chinese and U.S. shoppers help sales recover to pre-pandemic levels, consultancy Bain said on Monday.
Registrations have opened for ITS 2021, a competition dedicated to young design, based in Trieste. Scheduled for October, the contest will feature a new digital prize this year. Registrations close on June 24.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.