BEIJING, China — The world collectively shuddered when news broke last week that a new outbreak of Covid-19 cases had infected scores of people in China’s capital. “We were almost back to normal and then this happened,” said Lavine Luo, a Beijing resident who works at the capital’s National Centre for Performing Arts. The outbreak, which […]
Inditex Posts Quarterly Loss Following Store Closures
MADRID, Spain — Zara owner Inditex booked its first quarterly loss on Wednesday after the coronavirus crisis forced it to shut almost 90 percent of its stores in the three months from February to April. Inditex, the cash-rich owner of other brands such as Massimo Dutti and Bershka, said the rapid drop in sales had […]
Amazon vs Alibaba in the Covid-19 Era
LONDON, United Kingdom — Covid-19 has thrown the global retail sector into a state of chaos from which it might take months, if not years, to recover. It also worsened tensions between the world’s two biggest superpowers as President Trump adopted a ‘blame China’ strategy. This month, an internal Chinese government dossier reportedly informed leaders […]
The Art of the Crisis Pivot — and the Brands Getting it Right
NEW YORK, United States — Visitors to Revolve’s Instagram might have noticed a change in programming recently. While there were still plenty of influencers posing in festival-ready fashion, some were now starring in videos that can best be described as QVC for the Coachella set. The Revolve Shopping Network, which launched on April 11, features […]
Boohoo Sales Growth Declines Amid the Coronavirus Outbreak
MANCHESTER, United Kingdom — British online fashion retailer Boohoo said on Wednesday it saw a marked decrease in year-on-year sales growth in the middle of March, impacted by lockdowns due to the coronavirus crisis, though its performance has recovered in recent weeks. Boohoo, which in line with government guidance has carried on trading through the […]