Debenhams officially filed for administration on Thursday in a widely flagged move to protect it from the worst effects of the coronavirus crisis. It's the second time in a year the chain has gone into administration.
Vuarnet will donate 20% of its April revenues to healthcare personnel, entering the struggle against Covid-19. The famed sunglass manufacturer will contribute its donation to the fund All United Against the Virus.
Unibail-Rodamco-Westfield has announced pay cuts of between 20% and 25% for its senior execs with the unpaid salaries and fees being used to support efforts to fight the coronavirus in the countries in which it operates.
Arcadia is reportedly racing to raise extra cash as the coronavirus crisis adds to its existing problems. A report has said that it’s seeking to borrow £50m against its distribution centre in Northamptonshire.
According to a survey by BCG/Bernstein, the pandemic could wipe out up to nearly a third of the luxury market's value, estimated at €350 billion in 2019, with heavy repercussions on luxury groups’ EBITDA and cash flow.
Tiffany & Co said on Wednesday Australian regulators have sought more time to review LVMH's multi-billion dollar purchase of the U.S. jeweler due to the coronavirus outbreak, potentially delaying closure of the deal.
H&M , the world's second-biggest fashion retailer, said on Wednesday it had signed a 980 million euro ($1.1 billion) revolving credit facility to strengthen its liquidity buffer in light of the coronavirus pandemic.
The UK’s online sales of nail products are rising during the Covid-19 lockdown, NPD Group said on Wednesday, as consumers still long for their treats and beauty continues to be seen as an affordable way to achieve this.