Italian luxury group Salvatore Ferragamo said first-quarter revenues could fall by up to one third due to the spreading coronavirus outbreak, and said it was impossible at this stage to evaluate the full impact.
Global luxury brands are scaling back orders with Italian suppliers, as the spread of the coronavirus from key market China to major manufacturing hub Italy hits business across the sector, industry sources said.
Not many creators begin collections after reading proper works of psychoanalysis, but Paul Andrew did this summer, and the result was a powerful statement of modern fashion for the house of Salvatore Ferragamo.
The programme for the Milan Fashion Week, scheduled from February 18 to 24, features a wealth of new talent, notably from China, Hungary and Africa, plus Emilio Pucci’s catwalk come-back and a host of other events.
The luxury label fears a sales slump in China following the many store closures, and is funding the restoration of some of Florence’s iconic Renaissance sculptures, including a bronze replica of Michelangelo’s ‘David’.
The Italian leather goods brand has switched its watchmaking partner and signed a new licensing agreement with Timex Group, confiding the production and worldwide distribution of its watch collections to the company.
The menswear collections for next winter presented in London, Florence, Milan and Paris highlighted 10 main trends, notably showcasing an increasingly liberated, hybrid kind of man, his feminine side clearly displayed.