Models present creations from the Emporio Armani Autumn/Winter 2020 collection.
From Armani to Gucci, top fashion houses are re-designing their calendars to slow down the frantic pace of catwalk shows and new collections, as the coronavirus pandemic forces a rethink of the way the industry works.
Luxury labels are scaling back the number of collections they show at fashion weeks across the year in London, Paris, Milan and New York or at other events in exotic locations.
After more than two months of lockdown, with shops shut across the globe and manufacturing sites idled, the $310 billion luxury goods sector is on course for a 2020 sales drop of up to 35%, consultancy Bain estimated.
Brands are grappling with piles of unsold stock and the prospect of widespread discounts that risk denting their aura of exclusivity as well as profits.
U.S. designer Michael Kors was the latest to call for a post-virus slowdown in the fashion calendar on Monday, as he pulled out of New York's shows in September.
He said he would only make two collections a year - one for spring/summer and one for fall/winter, skipping so-called resort and pre-fall collections that many high-end labels have recently begun producing to refresh stores in the winter and over summer.
These collections showcase holiday wear for foreign travel that jetsetters may have to forgo this year.
The debate about fashion industry excesses pre-dates the crisis, but has been given a sense of urgency by the pandemic, which is pressuring brands to cut costs and shed inventory without losing too much money.
Kors said deliveries of its products would from now on be scheduled to arrive in store incrementally over the spring/summer and fall/winter seasons, more closely reflecting "how customers actually live and shop.
Armani, in an open letter to fashion trade publication WWD, said luxury labels should stop mimicking hectic fast fashion delivery schedules.
Alessandro Michele, who turned Gucci into a cash cow for French owner Kering, has also said he would cut the label's yearly shows to two from five.
And in its end-May earnings presentation, Ralph Lauren said it had rebalanced its assortments towards "core", less seasonal products, which have faster lead times and less mark down risk.
The brand will also set aside some finished products for upcoming seasonal collections, even if that means keeping clothes in inventory longer than usual.
Brands like Gucci and LVMH's Dior have used more frequent collections and expensive events in exotic places to lure a rich, but also voracious, clientele, particularly in China.
With luxury spend hit by the crisis, some industry insiders say it no longer makes sense to have such huge marketing expenses -- a fashion show can cost well over $1 million.
The move towards showing and producing less also reflects a power shift between brands and big U.S. department stores, which long dictated the timing of product releases to keep their stands looking fresh.
Christian Dior said on Monday it would press ahead with a calendar of fashion shows for this year starting in July with an Italian catwalk display - but without the celebrated front-row audience of A-listers.
Chanel may be about to bring down the curtain on its ultra-spectacular Paris fashion shows, its new designer Virginie Viard hinted Monday, as the French brand revealed its first collection since the coronavirus crisis.
Even something as deadly as the coronavirus pandemic could not hold back Berlin-based designer Anja Gockel, from showcasing her 2021 summer collection.
The tiny group of super rich women who buy the ruinously expensive handmade creations that adorn the runways of Paris haute couture week knew that meant their favourite designers would have to come to them.
Ferrari on Sunday rolled out its first in-house fashion collection, offering fans of the Ferrari brand and its supercars a touch of "couture" within a contemporary clothing range.
The giant bird of prey, which has a distinctive bright yellow face and a mane of feathers, was first seen on Monday flying over Peninnis Head on St Mary’s.
Recording artist Travis Scott and Kylie Jenner’s daughter ‘Stormi Webster’ spent some quality time in New York City with her parents.