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The owner of fashion brands such as Zara, Bershka and Massimo Dutti, recorded a 44% drop in sales in the first quarter of 2020, despite 88% of the Group’s stores being closed at some point during the period due to the Covid-19 pandemic, reports ILM.
The founder of Aboudabibazar, a small chain of independent luxury boutiques in Paris, Patrick Aboukrat, has issued a hard-hitting critique of the fashion retail sector. He said many mainstream brands had abandoned the concept of ‘Made in France’ to go in search of higher margins.
On May 28, the global fashion group, which owns the Versace, Michael Kors and Jimmy Choo brands, unveiled the details of a phased reopening plan for its global store operations, reports ILM.
Did you know that 20% of car buyers believe that artificial materials, marketed as a leather-like product, are in fact leather? It gets worse: 30% of consumers believe that materials labelled as ‘vegan leather’ are entirely or partly made from animal hides. When it comes to materials sold as ‘PU-leather’ 55% of people questioned were still convinced this was a partly animal-based product. Confusing, right? Report by One 4 Leather.
After a first quarter that it described as “the most horrible we have ever seen”, high-end footwear and accessories brand Salvatore Ferragamo has said its sales in China for the month of May have doubled.
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