Tue 24 Mar 21:43 pm
Down 70% against budget. Pre-collections at risk. Young brands in difficulty. Early sales problems. The big names in independent distribution are already reacting to the crisis triggered by Covid-19. First step – the digital evolution.
“If the crisis is not tackled with a common commitment on the part of the fashion system and institutions, the industry will come out very polarised, especially with a strong penalisation of young designers and independent brands uncovered at a financial level. At the same time, it will be necessary to protect spring-summer sales, because the risk of indiscriminate sales as soon as the stores reopen is real and online discounts have already begun”, Stefano Martinetto, CEO of Tomorrow London with offices in Milan, London, Paris, New York, Los Angeles and Hong Kong, told MFF. “We are distributors, but also advisors, investors, retailers and producers of digital content and, thanks to our 360-degree vision, we already knew that the traditional format of the showroom needed to be changed”, added Stefano Martinetto, explaining: “In 2019 we opened Tomorrow le Palais in Paris: a new format with an experiential, interactive approach and a museum-like display that has been of great help to us during this period. As for the events-presentation of Coperni, Ottolinger, Colville and even the Enfold’s performance. We also created webinars for buyers, recovering a significant amount of orders”.