Luxury Houses vs. the Covid-19 Pandemic

Recently the luxury powerhouse Prada Group stated its 2019 earnings at €3.2 billion in net revenue for the year. Now Prada has an anticipation of a negative impact for the rest of 2020 amid the 2020 year ahead, but Prada is far from being alone. Chanel has recently halted production and manufacturing sites for production through France, Italy, and Switzerland.Hugo Boss has take a huge step back from its 2020 outlook, as well as Burberry, who's sales were very promising from Riccardo Tisci's latest collection, have announced that trading had fallen more than 40 per cent, thanks to store closures. Luxury brand Longchamp has taken action across north America to halt and close down all retail shops in response to the Covid-19/Corona Virus.