See what brands in London are doing to combat the financial impact of the pandemic.
LONDON — Usually, at this time of year, Emma Davidson of the luxury fashion recruitment firm Denza would be looking to fill 50 jobs on behalf of her corporate clients.
Joanne Yulan Jong, founder of the strategic fashion consultancy Yulan, said that right now “there is pain on every level, from the top down.” The brands aren’t the only ones in trouble: Shortly after they reopened their doors on June 15, the big fashion and luxury retailers Harrods and Selfridges said they would slash 14 percent of their respective workforces, while Harvey Nichols also revealed plans to cut jobs.
A few weeks earlier, Michael Ward, managing director of Harrods, had said it would take “time and a drastic improvement in external conditions” for the store to recover and return to growth. Beckham plans to make fewer collections, and is laying off about 20 staff members, but that didn’t delay her from debuting Victoria Beckham Beauty in China on Alibaba’s Tmall Global. Beckham herself led the marketing efforts via a livestream Q&A session with Viya, one of China’s biggest influencers. The event generated more than 1 million renminbi, or $143,000, of sales in five minutes, according to the company.
As a small business, he said, “you don’t have to own everything, you don’t have to go up against Amazon. Work on building your brand equity, take the business forward with partners — and then you can always buy it back.”
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