According to consulting firm Pambianco, the top fashion and luxury performers on the stock market last year were sportswear brands and French luxury groups. Italian luxury labels were flat, save for Moncler and Prada.
New lines of Coach handbags helped Tapestry beat holiday quarter expectations on Thursday, sending its shares up 6%, even as the fashion house warned the coronavirus outbreak could dent its sales by up to $250 million.
One year ago, Tom Ford became Chairman of the Council of Fashion Designers of America, as the industry heralded a new dawn for NYC fashion. However, 12 months later, the season is strikingly denuded of many major names.
Jeremy Scott has cancelled his upcoming runway show in New York, in a move that will significantly weaken the American fashion catwalk season. Instead, the designer will show during haute couture in Paris in July.