Today, I read Gucci’s sales fell 10%. Sales in China saved the copernicus luxury brand from collapse. Last week LVMH put the brakes on Superstar Rhianna’s fashion line after two years. These stores are not a surprise in the current environment where consumers are in a holding pattern. The Black and Paper Fashion Lowdown report has been in the planning stages for a few weeks. I got tied up with other features. Also, the daily news from the fashion and retail world floods my in box. Keeping up with the fashion industry headlines evolved int a full time job. I read the daily using press. One grim reminder after another on the new world we are navigating. Layoffs, bankruptcies, unsold merchandise, the end is not around the corner. 2020 was a great reveal. 2021 will be reality.
After having conversations with fashion professionals from around the world, my conclusion is: Uncertainty. A reset will happen, a slimmer. more grounded business.
I promise to make the Fashion Lowdown podcast.