EssilorLuxottica Sees Coronavirus Weighing on Q2 Results – WWD

WWD spoke with @TomFord about everything from the effects of COVID-19 on fashion to his life during lockdown.
Here is some of what Ford said: ⁣⁣
1. Fashion isn’t going anywhere. ⁣⁣
“I don’t think American fashion will go away at all. I think American fashion will transform. I think all of fashion will transform and adapt.”⁣⁣
2. People over profits. ⁣⁣
“We’re paying our staff. They are our number-one priority… Even if you’re an established brand and are lucky like we are, versus a medium-sized brand, when everything stops and not a penny comes in, and your third parties start canceling their orders because they’re going to go out of business, it’s a big deal.” ⁣⁣
3. The business of fashion is evolving. ⁣⁣
“Everyone has been complaining about the fashion shows — well, guess what? They may not exist in September. And pre-collections? Who knows. Even if I wanted to have a pre-collection, I probably can’t because my sample rooms are closed. We can’t have any fittings, we’re under a 30-day lockdown. Even if I made a collection and somehow figured out how to have it in a showroom or show it virtually somewhere in May, which doesn’t look likely, who’s going to buy it?” ⁣⁣
4. The future is uncertain. ⁣⁣
“Really no one can predict this. That’s what’s so crazy about it. Usually you can sit down with a business plan where you can plan out. No one can predict this. No one in the world can predict what’s going to happen.”⁣⁣
5. We will survive.⁣⁣
“I think the most important thing is that this will go away, that this will pass, that we will survive… It’s hard to believe, I understand that, when you’re worried about how you’re going to pay your rent, how you’re going to pay your bills, it might sound callous. Because whatever industry you’re in, it doesn’t have to be fashion, it’s upending people’s lives.”⁣⁣
Tap the link in bio for more. ⁣⁣
Report: Bridget Foley⁣

#coronavirus ⁣

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