The resurgence of Covid-19 in Europe is increasing the uncertainty surrounding September fashion events. Trade show and fashion week organisers are trying to cope, amidst postponements, cancellations and online options.
Luxury online platform Farfetch said it saw “strong momentum” in Q2, driven by the acceleration of online adoption, helping it to make “significant” market share gains and connect to record numbers of new customers.
It’s been a weird year for fashion retail so far and Q2 in particular saw unprecedented global conditions, so it’s no surprise that the new Lyst Index is different from usual with Nike and Birkenstock's riding high.
Virgil Abloh has a new collab, with an automobile, not a runway. The American designer is linking up with Mercedes-Benz to celebrate the G-Class' 40th anniversary with an unique artwork – to be auctioned for charity.
A strong and coherent image, a good international and online presence, and a certain agility have allowed designer labels to establish their success. This has proved a winning formula but it could evolve with Covid-19.
The Italian fashion group, bought by Farfetch in 2019 and owner among others of Off-White and Palm Angels, has appointed Cristiano Fagnani, a manager with a 20-year career at Nike, to the newly created post of CMO.
Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.