As countries initiated lockdowns to prevent the spread of COVID-19, many luxury brands backed off on ads and turned to engaging content in a strategy that aimed to soothe consumers during distressing times.
With wealthy shoppers from Asia and the Middle East absent, the European luxury industry is hanging on by a thread.
As luxury brands scramble to reopen stores and maintain their business in a post-pandemic world, many are looking for new revenue streams to help augment the losses incurred during the lockdown period.
With borders still not fully open worldwide, the largest group of luxury consumers is staying home, spelling trouble for Western brands.
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The COVID-19 pandemic disrupted global operations and supply chains with stores, warehouses and offices shuttered. Not surprisingly, a cottage industry of fashion experts has sprung up, with plenty of solicited and unsolicited advice on how to manage these interruptions.
As stores around the globe begin to reopen, it is going to take some strategic marketing to reconnect with consumers and entice them into bricks and mortar.
French luxury conglomerate LVMH is trying to tamp down the speculation around the fate of its planned acquisition of Tiffany & Co. that was agreed by the U.S. jeweler’s shareholders in February.
Father’s Day is around the corner and luxury marketers are running digital campaigns to boost sales at a time when retail is suffering and cities across the United States are experiencing unrest.
Luxury brands have taken to social media to support Black Lives Matter in the United States in a move to show support for human rights after the death of George Floyd in Minneapolis police custody.
