The analysts expect the epidemic to have a greater impact in Europe in the second quarter of the year, affecting the two largest European fashion groups.
Companies
Italian fashion group OTB, which also owns Maison Margiela and Marni, is keeping its target for 2020 despite the coronavirus epidemic.
The Portuguese group is the first big fashion company in Portugal and Spain that has announced this measure. On the other hand, Nike and Givaudan has taken similar measures.
Joshua Schulman, until now responsible for Coach, will leave his post after the transition period.
The cosmetics company has announced a cost savings plan of 230 million dollars until 2022.
The company has appointed Massimo Renon as new chief executive officer. Renon has managed Italian eyewear giant Marcolin for the last three years.
The label said 2018 had been a year of transition and blamed reorganization costs for the 11 million pounds of loss. LVMH replaced Kering as a minimum stakeholder.
James Holder, co-founder of the British company, has created a new project, called JackitCo, under which he will launch ten new brands over the coming year.
Inditex, H&M, Decathlon or Primark are some of the major operators in the sector that have already opted to source from the African country. Chinese know how and low labour costs are its main incentives for the sector.
The British shoe company, currently, owned by Permira is in talks with the American fund.
The American outdoor company fortifies its presence with openings in key markets.
The cosmetic giant ended the fiscal year 2019 with a revenue of 3 billion dollars
The eyewear giant has ended the last fiscal year with a revenue of 17.4 billion dollars.
The Italian luxury company is set to fortify its presence in the busy city of London, making this its third directly-operated-store of the brand in the British capital.
Sonia Syngal will relieve CEO Robert J. Fisher, who occupied the position on an interim basis since the exit of Art Peck.
All economic news of the key fashion companies worldwide.