As the Coronavirus crisis continues to cast shadow over the apparel and fashion industry, Capri Holdings Ltd. is the latest company to furlough retail workers and cut executive salaries.The company will furlough its entire North American retail staff, which is roughly 7,000 workers beginning 11 April. However, furloughed workers will get scheduled benefits.Parent company to high street luxury brands Jimmy Choo, Michael Kors and Versace, its stores in North America and Europe have been closed sin

Amidst the COVID-19 crisis, a number of companies are stepping up and donating to tackle the situations and meet immediate needs. Nike is one of them.The brand has committed more than US $ 17 million to COVID-19 response efforts including the additional US $ 1.6 million donation to help local organisations meet immediate needs, such as food and medical care in key cities and communities around the world.Image Courtesy: fortune.com“These grants will support on-the-ground organisations that need i

The luxury retailer Neiman Marcus has proceeded with talks of a possible bankruptcy protection by the end of this month.Image Courtesy: www.businessinsider.comAfter struggling to earn profits for several quarters and the global spread of COVID-19 resulting in shutting of their retail stores, the Neiman Marcus Group is in talks with various creditors to provide bankruptcy protection to continue its operations.The Group has been having confidential discussions with its lenders to provide financial

The floral fashion brand – Cath Kidston – calls in administrators as the pandemic shutdown pushes High Street retailers on the verge of breaking.Image Courtesy: headtopics.comCath Kidston confirmed that it intends to appoint advisory firm Alvarez & Marsal as administrators. An urgent review of the business began last month and there has been interest from possible buyers.The company employs 941 people out of which 820 had been furloughed on 22 March under the Government’s employee payment sc

Coronavirus has wreaked havoc on the world as retailers, slammed by store closures, have been cancelling orders for merchandise they previously placed with suppliers.Image Courtesy: Westend mallIn some cases, it is getting even worse as the stock inventories ready for shipment are being refused, which is risking failure of factories that are just getting back on their feet.Fast-fashion icon H&M is leading a different way amidst such unpleasant times as it assures its suppliers to accept the

Urban Outfitters, the US-based fashion retailer, has said that it will be suspending all rent payments in addition to delaying all new store openings amidst the COVID-19 outbreak.The retailer said that all the existing outlets shall temporarily remain closed till anything further announcement.Starting today (1 April 2020), a significant number of store, wholesale as well as home office employees will be furloughed for as many as 60 days. However, the company quickly added that the employees will

French fashion label Christian Dior puts its hands into producing face masks for workers in supermarkets and other sectors still operating during the nCOVID-19 pandemic, tuning with the moves made by other luxury brands.Image Courtesy: LuxuvereDior’s plant situated in Brittany, northern France will produce the protective gear, which normally makes high-end baby clothes.The brand’s rest of the production sites have been closed.LVMH, which is the parent company of Dior, is using some of its perfum

OnTheList, a members-only weekly flash sales concept which provides members with exclusive access to luxury brands at discounted prices for a limited time, is revolutionising the luxury retail landscape in Asia. It acts as the middleman between members looking for affordable luxury lifestyle products and brands that are looking to sell off past season items.Pic: ShutterstockOnTheList currently caters to 250,000 members across Hong Kong, Shanghai, Beijing and Taiwan, including 20,000 members in S

It was only two weeks ago that Pitti Uomo announed it was planning to go ahead with its June instalment of the Florentine tradeshow. As we have come to witness, a lot can happen in a fortnight. In a statement with the hashtag #pittilooksahead, the menswear exhibition said it was working hard to open next June’s fairs on the dates announced, in addition to updating its digital platform. But this looks likely to change, as Milan has canceled its men’s fashion week, as did London, Paris and New Yor

Burberry is the latest fashion brand to announce it is focusing its efforts on tackling the Covid-19 pandemic and will be repurposing its iconic trench coat production factory in Castleford, Yorkshire to produce non-surgical gowns and masks for patients.Other efforts by the British luxury label will see it supplying 100,000 surgical masks to the NHS and donating to charities, including FareShare and The Felix Project, to help provide food to those who need it in the UK.“In challenging times, we