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Showing posts from December, 2020

COVID impact on luxury

 2020 has been one giant... i'm just going to say it Cluster duck of a year. But from trial comes triumph, with some companies absolutely flourishing and some gurgling down the toilet. The unfortunate need for companies to pivot, has left some with no choice but to close down. From fashion shows being streamed online, and shop closures. Luxury has relied heavily on their online presence to continue their revenue and trading through the pandemic. With many economist predicting an economic down turn, decrease in sales and all round shrinkage in the luxury niche.  I am of the opinion that the luxury category was only minimally affected by this crisis, and i think the recent black Friday sales have proved that the desire for luxury items is well and truly alive and well. With Valentino nearly selling out of their sale items within the first 48 hours.  I know crazy right?! and Valentino wasn't the only luxury brand that experienced literal sell out crowds, with Dior, Balenciag...