Fashion sales declined around the world after the lock-down caused by Covid-19. However, leaders of the luxury industry show optimism despite the coronavirus. We are happy to say that Fashion Accessories sales are on the rise.
MAD consulting carried out a detailed report on the strategic challenges of Luxury Brands after Covid-19. Luxury, unlike other sectors such as turism and hostelry, seems to show its resistence more and more in times of economic recession.
In this particular context, this economic growth doesn’t mean a return to the previous luxury market. The surveyed people believe that growth will be driven mainly by three circumstances:
- A better knowledge of the end customer (62%).
- China and its Chinese local comsuption (60%).
- New distribution estrategies (45%).
For example, LVMH Group exceeded forecasts and mitigated the damage suffered by the pandemic. That’s why the growth of fashion and leather good sales has made possible the recovery of the business group. Mainly, the success is due to the results of Louis Vuitton and Christian Dior Couture during this summer. Also, the activity in Asia remains a main driver.
Fashion Accessories sales are on the rise and, hopefully, leather goods also. We remember a previous post talking about “Fashion Industry after Covid-19“.