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Luxury segment will find it most difficult to recover after crisis 2020
Fashion

Luxury segment will find it most difficult to recover

Following the crisis, luxury segment will find it most difficult to recover. This sector depends on offline trading by far more than others in the fashion business, luxury goods have a low level of presence on the Internet and are heavily dependent on department stores and offline retail. 

Also, 20-30% of industry revenue comes from purchases of luxury goods made outside the countries where the consumers live. 

2020 already looks like "the worst year in the history of modern luxury" In March, the LVMH conglomerate already confirmed a 20% drop in revenue for the first quarter of 2020 as a result of the Covid-19 outbreak. While the extent of the damage to all companies remains unclear, even so, for the fortunate few, there will also be opportunities to capture. 

But, for the fortunate few, there will also be opportunities to capture.