Coronavirus May Erase $43 billion in Luxury Sales in 2020


With the temporary closure of multiple stores and the cancellation of fashion shows, retailers’ sales are threatened. We have seen a “strong drop in traffic and in salessaid the CEO of Kering, François-Henri Pinault, in the company’s earning call. The list of retailers to shutter during the pandemic has now been joined by Abercrombie & Fitch, Guess?, Victoria’s Secret, Macy’s, Nordstrom, Tommy Hilfiger, Calvin Klein, Ralph Lauren, Sephora, and many more.

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