Prices of some Chinese limited edition sneakers soared among collectors and speculators following calls for local consumers to boycott global brands that have said they don't source products or yarn from Xinjiang.
As Fenwick prepares to reopen, its CEO has predicted “ a good opening, but a slow recovery as well”. Yet overall, he’s confident it's on the right track and can do well in the changed retail world of the future.
In the last year, the luxury industry’s digitalisation process has accelerated at all levels, radically transforming the labels’ relationship with the public, as shown recently by Bottega Veneta, Versace and Balmain.
According to a study from data analysis specialist Retviews, the label's success is down to its focus on its assortment, which brings together exclusivity and inclusivity, and its reactiveness to trends.
Luxury leathergoods brand Smythson's accounts show the year to March 29 2020 was a difficult one for the firm. But a sale and licence-back deal since then has offered stability and a digital focus is yielding rewards.
Next delivered a profits plunge and lower sales in its latest year. But given the Covid crisis during the period, its results on Thursday still showed it to be one of the more successful businesses in British fashion.