Chanel Sees Trouble Through 2021

Inside the BoF Professional Summit [View on Web]( [Add to contacts]( [New reader? Subscribe]( [BoF]( THE DAILY DIGEST ADVERTISEMENT [SHOPIFY PLUS | DDNL | PROF SUMMIT JUNE16-20]( THE UPFRONT Dear BoF Community, Closely watched Chanel surpassed $12 billion in sales in 2019, buoyed by robust performance in beauty and fragrance, and successful fashion collections by Creative Director Virginie Viard. But even Chanel, with its iron-clad brand, is hurting badly from the Covid-19 crisis and expects to suffer well into 2021. [Lauren Sherman spoke to Chanel’s global CFO Philippe Blondiaux]( to learn more. Elsewhere, luxury e-commerce is a tricky business, but [MyTheresa has made the model profitable where others have struggled.]( I spoke to Mytheresa CEO and President Michael Kliger to understand the secrets to the company’s success. Also, don’t miss the [highlights from our BoF Professional Summit]( on how to build a responsible fashion business. Vikram Alexei Kansara, Editorial Director TODAY'S MUST READ [News & Analysis]( [Chanel Sees Trouble Through 2021: What Happens Now?]( BY Lauren Sherman [The French megabrand blew past $12 billion in sales in 2019, but it's not immune to the devastating financial effects of the coronavirus pandemic and expects to see significant contraction well into next year.]( To access this article, become a BoF Professional Member [JOIN]( TOP STORIES [Intelligence]( [The One Luxury E-Commerce Player That’s Consistently Made Money]( BY Vikram Alexei Kansara [How has Mytheresa made online luxury profitable when competitors have struggled? CEO and President Michael Kliger reveals the secrets to the company’s success.]( To access this article, become a BoF Professional Member [JOIN]( [BoF Professional]( [The BoF Professional Summit Wrap-Up: How to Build a Responsible Fashion Business]( BY Rachel Deeley [The climate crisis, Covid-19 and recent anti-racism protests have forced the fashion industry to recognise how it is failing to live up to its environmental and social responsibilities. Global experts at The BoF Professional Summit weighed in on where we go from here.]( To access this article, become a BoF Professional Member [JOIN]( [China Decoded]( [6 Ways to Boost Sales During the 618 Shopping Festival]( BY Casey Hall [With billions of dollars of merchandise sold by more than one hundred thousand brands, China’s discount-focused shopping festivals are impossible to ignore but difficult to get right. Here are six ways to make them work.]( To access this article, become a BoF Professional Member [JOIN]( [IN OTHER NEWS]( [Live Blog: Companies Offer Juneteenth as Paid Holiday, Record Unemployment Claims Continue]( [From Savile Row to Swiss Watches, Luxury's Rules Have Changed]( [UK High Streets Half Empty Despite Shops Reopening]( [Brookfield Sues Gap Over $2 Million in Missed Rent Payments]( [Online Fashion Stocks in Vogue as Coronavirus Speeds E-Commerce]( [DAILY DIGEST Fashion News from Around the Web]( 1 [What It's Really Like to Be Black in the Fashion Industry]( [THE GUARDIAN]( 2 [Does Shopping Secondhand Actually Reduce Overall Clothing Consumption?]( [FASHIONISTA]( 3 [Four New Ways Brands Can Speak Directly to Customers]( [INC.]( 4 [While the Rest of Fashion Is Moving Online, Primark Is Sticking to Its Stores]( [QUARTZ]( 5 [The Urgent Need For A Wellness Industry Designed For and By Black Women]( [REFINERY29]( FEATURED JOBS  [Stockroom Assistant]( [La Garçonne](    New York, United States  [Junior Email Designer]( [Farfetch](   London, United Kingdom  [Vice President, Digital]( [G](   New York, United States [View All Jobs](  [Subscribe Were you forwarded this email? To subscribe to this newsletter, click below.]( for Free]( Follow Us [The Business of Fashion]( [Sponsorship & Advertising]( [About]( This email was sent to {EMAIL} [Add to Address Book]( | [Unsubscribe]( | [Edit Newsletter Subscriptions]( The Business of Fashion Moray House - 6th Floor · 23-31 Great Titchfield St London W1W 7PA · United Kingdom