The future of luxury: Will Covid-19 change fashion forever?

Luxury fashion and beauty brands have rushed to accelerate their digital roadmaps since the beginning of the pandemic. According to Bain & Company, who have been tracking the personal luxury goods market for 25 years, the industry imploded in 2020. The luxury industry’s loss exceeded those of the recession two-fold – losing €64 billion in sales throughout the year, representing a 23% decline compared to 2019. Luxury brands have long been “low tech” in their...