Special Edition: Luca Solca on ‘The Worst Year in the History of Modern Luxury’
The Business of Fashion Podcast
The Business of Fashion
4.6 • 770 Ratings
🗓️ 19 March 2020
⏱️ 39 minutes
🧾️ Download transcript
Summary
BoF’s Imran Amed and the Bernstein analyst discuss what the sector should expect as coronavirus threatens sales and supply chains.
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Transcript
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| 0:00.0 | You've called your assessment of COVID-19 terra incognita. |
| 0:08.0 | When we look at the business implications of this, it's quite clear that the first half of this year |
| 0:17.0 | is going to be the worst first half in the history of the luxury goods industry. |
| 0:23.6 | Are we ending up in a similar situation we were in back in 2008 when there was all of this product on the market |
| 0:32.6 | and it led to radical deep discounting? Many of the companies have decided to close down their manufacturing activities |
| 0:43.3 | and also potentially to skip a season altogether. |
| 0:51.3 | Hello, this is Imran Ahmed, founder and CEO of the Business of Fashion and welcome to a very |
| 0:55.9 | special episode of the BOP podcast. Part of our series to bring you information, analysis, and |
| 1:03.2 | expertise from some of our favorite thinkers around the world as an industry, try to navigate |
| 1:09.1 | the coronavirus pandemic, which is first and foremost a human |
| 1:13.5 | story, but which is also an economic story, which is having grave impact on our industry |
| 1:19.5 | all around the world. |
| 1:21.6 | This week I speak to Luca Solka of Bernstein, who's been a columnist at BOF for many, many years now. |
| 1:28.3 | Luca's letters have become go-to resources for people trying to understand the financial and market analysis of our industry. |
| 1:36.3 | And there's no one better to speak to now to understand how this is going to change the way companies are thinking about this year in fashion as the changes all around us are unfolding. |
| 1:49.1 | Will we need to skip a season? What happens to luxury e-commerce? |
| 1:53.2 | What's the impact of many, many stores first in China, now in Europe and North America, all closing down? |
| 1:59.6 | We get all of the latest information and |
| 2:02.9 | analysis from Luca on this week's episode. So here's Luca Salka Inside Fashion. |
| 2:13.9 | Good morning, Luca. How are you today? Good morning, I'm well. I'm you. |
| 2:20.3 | I'm okay. I'm sitting here at my dining room table, along with a bunch of papers trying to like make do with this new working situation. |
| 2:31.3 | I see you're at home as well. |
... |
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