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450 Staff of Selfridges To Lose Their Jobs As Covid19 Bites The Luxury Industry Harder
July 28, 2020
450 staff of the United Kingdom luxury retailer, Selfridges will lose their jobs as the effect of Covid19 bites the luxury industry harder. The 14percent cut is one of the measures the store is taking to shore up cash after stores were forced to close for months during the lockdown. Managing director Anne Pitcher warned sales […]
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COVID-19: Luxury Sector Could Lose $45bn In Sales This Year
July 27, 2020
FUNKE OSAE-BROWN The luxury sector could lose $45 billion in sales this year, Boston Consulting Group and Bernstein has predicted. The pandemic has destabilized a hitherto tranquil sector. Many global events were cancelled. First, the annual world-acclaimed jewellery and watch show, Baselworld, was postponed to January 2020. However, the January date was not to be […]
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