Mall operators in the Gulf region are delaying new mega-projects as the coronavirus pandemic and low oil prices upend a retail industry built around huge centres catering to tourists and wealthy locals.
The two management consulting experts have outlined for FashionNetwork.com what the post-Covid-19 luxury market will look like. They believe luxury labels will be faced with five main challenges in the coming weeks.
According to a survey by BCG/Bernstein, the pandemic could wipe out up to nearly a third of the luxury market's value, estimated at €350 billion in 2019, with heavy repercussions on luxury groups’ EBITDA and cash flow.
The study will produce a report assessing NYFW’s current carbon footprint, tracking factors like event production, logistics, transportation and PR, and will present actionable priorities and opportunities for change.
Jean Paul Gaultier has appointed a new General Manager, Antoine Gagey, co-founder of womenswear label Coralie Marabelle. He succeeds Sophie Waintraub, as the Parisian label is keen to continue with haute couture.
Coty and Kylie Jenner have announced the completion of the transaction cementing their long-term strategic partnership and revealed the appointment of Christoph Honnefelder as CEO of Kylie Cosmetics and Kylie Skin.
The CEO of the American fashion group, who stepped into his role in early 2015, will be succeeded by chairman of the board, Robert J. Fisher, heir of the company's founding family, who takes over as interim CEO.