Sales at Maybelline maker L’Oréal fell more sharply than expected in the second quarter, though the French beauty giant managed to contain any major profit erosion as the COVID-19 pandemic forced stores to close.
The New West End Company is calling on the UK government to introduce tax-free shopping for European tourists post-Brexit as what should be Britain’s busiest shopping area continues to see a mere trickle of visitors.
Global affluent consumers are beginning to question their consumption of luxury goods in the wake of the coronavirus crisis, but the Chinese are still very pro-luxury, even though they're demanding sustainability too.
Swiss travel retail giant Dufry AG on Wednesday launched a restructuring programme designed to cut its staff costs as it works to protect its business following the effects of the coronavirus outbreak globally.
Footfall researcher Springboard said retail visitor traffic from June 15 up to June 21 rose, but was still weak by normal standards. And the West End continued to reel from the absence of tourists and office workers.
After a two-month lockdown, the stores on Paris’s Champs-Elysées avenue opened again at 10 am on Monday, some with their customary queues outside, though the usual throngs of foreign tourists were sadly missing.