Few people play as pivotal a role in Italian fashion as Raffaello Napoleone, the chief executive officer of Pitti Imagine, whose twice-a-year menswear salon is, to many people, the top-ranked fashion salon anywhere.
The owner of Tommy Hilfiger and Calvin Klein has revealed that it is closing its heritage brands retail business as part of efforts to streamline its operations in North America in the wake of the Covid-19 pandemic.
Designers are clamoring for a radical change in the fashion system; for less seasons and shows and later fashion week dates. But Carlo Capasa, president of the Camera, still expects to have four Fashion Weeks per year.
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
Gap Inc warned on Thursday it may not survive the next 12 months intact and would need to borrow more funds in the face of widespread coronavirus shutdowns that have crippled the business of clothing retailers globally.