Author:Dhani MauPublish date:Oct 16, 2020With stores and production sites closed and travel halted, the second quarter of 2020 was a tough time for luxury brands. The industry's two biggest, strongest conglomerates were suddenly looking at double-digit declines: LVMH saw a 38% drop in comparable sales, Kering a 43.7% drop . That was despite some growth in online sales as consumers shopped from home, and a rebound in China, which had largely recovered from the pandemic by then.
With most stores only just beginning to open and tourism still nowhere near normal, that LVMH fashion has already returned to double-digit growth is pretty huge. Because they make up much smaller portions of revenue, LVMH is even more vague about the brands that aren't Vuitton or Dior, which it literally just refers to as "other brands." Though, it did call out three as having shown "big improvement" during Q3: Fendi , Loewe and Celine. News-wise, the company highlighted Matthew Williams' debut collection for Givenchy, which it said was "well-received" .
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Video Games Thrive During Pandemic Year Of New Console Launches, But Is An M&A Battle Royale Brewing?The video game sector is seeing double-digit growth during COVID-19 and is poised for another shot in the arm by year’s end when Microsoft and Sony launch new consoles, according to industry …
Source: DEADLINE - 🏆 109. / 63 Read more »
Tyler Perry’s ‘Sistas’ Posts Ratings Gains In Season 2 PremiereTyler Perry’s SistasOnBET launched its second season — the first season of a primetime scripted series filmed during the pandemic to hit the air — on Oct 14 with two back-to-back episodes SistasOnBET This was so stupid
Source: DEADLINE - 🏆 109. / 63 Read more »
Subdued reactions as China's 4.9% growth in GDP weaker than expectedThe world’s second-largest economy year-on rise in the July to September period is closer to pre-pandemic levels than Q2 growth. €6£€8€6¥_£¥/7¥€9£6¥£65¥£¥77¥£¥6¥£8£€¥/6¥€₩_6₩€₩€6₩€)88£()))00000000000000000 FT
Source: trtworld - 🏆 101. / 63 Read more »
China's Economy Bounces Back As Pandemic Is Brought Under ControlEconomists estimate China's yearly GDP growth could be north of 2.5% this year — even as the rest of the world economy is expected to shrink by at least 4%. Even China has covid-19 under control, and it originated there...Trump blew the response to this and is why I'm voting Biden/Harris all it takes is bone-crushing oppression and violence against your own people. hooray! Funny how that works.
Source: NPR - 🏆 96. / 63 Read more »
Pandemic Dining Somehow Isn’t the Worst Part of Issa Rae’s SNL Date“I don’t have the best luck with guys,” Issa Rae tells her confused date. “They all end up crazy” SNL Irish Falcon⚡️Clover Charm🍀
Source: NYMag - 🏆 111. / 63 Read more »
Watch this couple's pandemic wedding on the US-Canada border - CNN VideoThis couple from Canada wanted friends and family to be able to join in on their special day, despite the coronavirus pandemic and a border in the way. EndInsecurityInNigeria End SARS, End swats end police brutality, end bad government is that you 2ToesUp So great and creative!
Source: CNN - 🏆 4. / 95 Read more »