Despite the Covid-19 setback, LVMH Fashion Brands are already showing double-digit growth
Fashionista reports that with 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 (even Gucci did poorly). 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. […]
