As Coronavirus Lockdowns Hit Supply Chains, Luxury Fashion Is Not Immune

Topline: Luxury retailers have been hit by a double-whammy of falling demand from Chinese buyers, and lockdowns across major manufacturing regions in Italy that have now spread nationwide. Suppliers of textiles and leather goods told Reuters that demand had been slashed from the likes of Gucci, Prada and Salvatore Ferragamo. “We were producing 880 to 1,000 bags a month for Gucci. In February we made 450 and we have no orders for March,” one owner of a supplier to the Kering-owned luxury brand told Reuters. Italy has the largest cluster of Covid-19 cases outside…

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