Currently the largest segment in the luxury market corresponds to clothing, this has a registered volume of 65,957 million dollars until this year. However, like other industries, it has also been affected by the current coronavirus COVID-19 pandemic.
However, not all are willing to be defeated by this outbreak, because while some brands like Gucci and Saint Laurent give up their catwalks, others like Dior and Burberry.
Among these is the French brand Christian Dior that has announced that it will keep its fashion show calendar according to plan. These will start in July with an Italian catwalk.
The brand has considered opting for some sanitary measures such as discarding the famous « First row ».
One of LVMH’s biggest brands, it won’t let the new coronavirus be a problem, as a range of mid-season “cruises” will premiere on July 22 in Lecce, Italy in a live show.
But in addition, by September he hopes that his Paris parade will already have spectators in the front row.
« Fashion week is important not only for the fashion family, it is also important for the city where the shows are, » said Dior designer Maria Grazia Chiuri.
Let’s consider these fashion events to be big business for cities like Paris, and the hotels that are part of these glamorous shows.
As this one also Burberry will present its parade on September 17 in England. One of the countries with the most cases of COVID-19 in Europe, as it currently registers more than 306 thousand confirmed cases, of which 42,732 people have lost their lives.
The impact of luxury consumption:
According to Statista, during 2020 it generates an income of around $ 4.81 per person worldwide. At the same time, revenue in the luxury fashion segment climbs to 95,844 million in 202 and is expected to grow 7.7 percent during this time through 2023.
In 2019, the Dior brand was valued at approximately $ 6 billion. In comparison, the brand valuation was $ 4.6 billion in 2017.
However, the one that is positioned as the most valuable in its field is Louis Vuitton with more than $ 32,223 million, followed by Chanel, Hermes and Gucci. On the other hand, Dior and Burberry are valued at 6,192 million and 5,205 million respectively.
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