Daily LInks
1. Europe’s €8.6 trillion consumer sector faces uneven recovery from COVID-19: “We’ll be back to pre-crisis levels by 2022. Why not quicker? We expect some scarring to remain from the pandemic. Unemployment is elevated, consumer confidence is affected and wage growth will be subdued.” – Read More on S&P Global
2. Ferrari CEO Search List is Said to Include Luxury-Brand Leaders: Gucci CEO Marco Bizzarri’s name is a preliminary list of luxury-industry heavyweights, as is Stefano Sassi, who headed the fashion group Valentino for about 15 years before leaving the company in May. – Read More on Bloomberg
3. RELATED READ: Luxury in the Age of COVID: Hermès is “Resilient,” Ferrari is “Extraordinarily Stable.” Are “Ferrari’s peers the mainstream carmakers or the luxury houses?” The Italian automaker’s “strong pricing power, and skill in controlling volumes and squeezing demand to maintain cache, reinforce the argument it belongs with the latter.” – Read More on TFL
4. Mytheresa eyes China expansion with tailored shopping experience for wealthy consumers: Asian consumers of luxury goods tend to be younger than their European counterparts. “At a younger age, [they] are interested, willing to spend their discretionary income on luxury goods.” – Read More on SCMP
5. The fashion world predicts post-Covid boom: “Investment bags have seen a huge surge in demand since December and are continuing through January including Brunello Cucinelli, Berluti, Bottega Veneta and Métier,” says Damien Paul, head of menswear at Matchesfashion. “We are also seeing a strong reaction to men’s fine jewelry.” – Read More on the Guardian
6. Myanmar coup to dampen U.S. trade, impact footwear companies, experts warn: Total trade in goods between Myanmar and the U.S. amounted to nearly $1.3 billion in the first 11 months of 2020, with apparel and footwear accounting for some 41% of total U.S. goods imports, followed by luggage. – Read More on Reuters
