The effects of the lockdown are evident, especially in the fashion industry, and the latest Burberry‘s report proves it. The brand’s revenue decreased by 48%, from 498 to 257 billion pounds, and decreased by 8% on the London Stock Exchange.
The company is not the only one that has been affected by this economic crisis. Both Zara and H&M had to permanently shut down hundreds of stores all over the world, and even Gucci after increasing the prices of their bags by 9% had to reduce the numbers of their authorized retailers. Even if things are going better after the end of the lockdown, it seems that the British brand is about to fire 500 people from their staff.
Hopefully, the new Burberry collection by Riccardo Tisci will increase their sales and help the situation.
The company is not the only one that has been affected by this economic crisis. Both Zara and H&M had to permanently shut down hundreds of stores all over the world, and even Gucci after increasing the prices of their bags by 9% had to reduce the numbers of their authorized retailers. Even if things are going better after the end of the lockdown, it seems that the British brand is about to fire 500 people from their staff.
Hopefully, the new Burberry collection by Riccardo Tisci will increase their sales and help the situation.
