Under The Epidemic Situation, The Global Luxury Goods Industry Has Suffered From "Cold Spring" Luxury Goods And Transformed Into Production Of Epidemic Prevention Materials.

Recently, under the severe epidemic situation, the global luxury industry has suffered varying degrees of losses. Many tourists have been cut down suddenly, shopping malls have been shut down, and big show has been cancelled. Many brands of luxury goods have to press the stop button temporarily under the influence of the "late spring cold".

According to the latest research report by Bain, a leading management consulting firm, global luxury goods are expected to decline by 25%~30% in the first quarter of 2020 compared with the same period in the first quarter of 2020. Compared with 2019, sales fell by 15%~18%, 22%~25% and 30%~35% over the same period. In the second gear market, the decline of 22%~25% indicates that global luxury sales will reduce sales revenue of 600~700 billion in the whole year.

As the largest luxury group in the world, LVMH, a luxury brand group of French luxury brand Louis Weedon (Louis Vuitton), recently issued a warning that its revenue will fall by 10% to 20% in the first quarter of this year, affected by the epidemic. In the statement, the group stressed that the closure of its workshops and stores in the short term will have an impact on the performance of the group. In view of the inability to predict when it will return to normal, the specific losses can not be estimated for the time being.

Despite the cold spell of the luxury industry, the group did not complain, but helped to start production and produce anti epidemic materials to contribute to the fight against the epidemic.

The following are the related announcements issued by LVMH on the official website:

Some time ago, LVMH, a luxury luxury goods company in France, announced that its three brands, Dior (Dior), Guerlain (Guerlain) and Givenchy, will produce the water and alcohol gel for hand disinfection, but will not brand labels. The products will be provided free of charge to the French authorities and the largest European hospital system, Assistance Publique-H pitaux de Paris.

Facing the epidemic situation, ignoring the subversion of its brand image, it is worth praising that we can stand at the most difficult time in this society to lend a helping hand and not to seek benefits.