Fashion brands are stepping up to help slow the spread of the virus.
As the fear surrounding coronavirus reaches a fever pitch and markets begin to reflect its deepening uncertainty, the question becomes: Can the luxury market recover from the panic of pandemic?
As the creator of Off-White, Virgil Abloh has become renowned for making streetwear chic. Now, the designer of the world’s most coveted brand is facing a new challenge: modernizing Louis Vuitton’s menswear by synthesizing his avant-garde designs with the heritage Maison’s timeless silhouettes.
Following a lackluster few years characterized by declining sales, disappointing stock performance, and vain attempts to revive the brand’s image, Prada is well-positioned for a buyout. So, which luxury conglomerate will take the bait?
With 75 brands spanning 6 sectors, from Fashion & Leather Goods to Selective Retailing, and boasting heritage houses like Dior and Louis Vuitton, Bernard Arnault’s LVMH is the largest fashion conglomerate ever and the second most valuable company in Europe. However, as Arnault ramps up acquisitions, it begs the question: has LVMH become a monopoly?
The health crisis in China has left many luxury brands scrambling.