One in four manufacturers is considering closing down. Half are experiencing sales shortfalls in excess of 50%, and 80% of them are cutting jobs, with no re-localisation in sight even once the emergency is over.
Swedish giant H&M Group has told suppliers in Bangladesh and other manufacturing countries that they will receive payment for the orders they have already fulfilled or begun and it won't expect discounts.
The Italian menswear label, now facing the A/W20 collection’s first order cancellations, is asking the Italian government for cash-flow support, an extension to temporary redundancy measures and rent suspensions.
Mango is launching a lockdown initiative called Home Sessions, a series of livestreamed concerts. The first happens at 6 pm on Thursday with Marta Knight performing live from her home via the Mango Instagram channel.
Mayhoola, the group that controls Valentino, Balmain and Pal Zileri, has made a €1 million donation to the fight against Covid-19. It follows a major donation in Italy by the Qatari-based investment vehicle.
Intu is refusing to let some larger "well-capitalised" tenants avoid paying store rents and service charges during the Covid-19 crisis, saying that it doesn't have the "financial capacity to bankroll" global brands.
PVH Corp. on Wednesday recorded both a fourth-quarter and full-year sales uptick in 2019, on the back of strong sales growth at Tommy Hilfiger, as the company tries to weather the financial impact of Covid-19.
Adidas apologized on Wednesday for saying it would stop paying rent for stores around the world forced to close by coronavirus lockdowns after a storm of criticism, saying it would pay up for April after all.
German department store chain Galeria Karstadt Kaufhof is seeking protection from creditors to stay afloat, it said on Wednesday, after nationwide store closures to help to contain the spread of the coronavirus.