Could the Pandemic Make Retail Better?
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THE UPFRONT
Dear BoF Community,
This week I fell in love with fashion again. Retailers have reopened in London and I decided to take an impromptu field trip to Selfridges, one of the few department stores that went into the pandemic on a strong financial footing, earning £809.9 million in annual revenue and almost £100m in profit before tax in the latest accounts available at the UK's Companies House, for the year ended Feb 2, 2019.
I had been feeling quite down on fashion these past few months. It's only natural given everything that is going on. The people of the world are currently working on dismantling systemic racism, inequality and privilege, anticipating the second wave of a deadly virus amid a global pandemic, worried about their lives and livelihoods amid a deeply challenged economy and more broadly wondering when this will all end.
But walking into Selfridges was like being a kid in the proverbial candy store. Several amazing jackets from Craig Green, a deep green Bottega Veneta intrecciato backpack, a futuristic block-coloured parka from Prada and a vibrant handknit Valentino jumper all caught my eye. Without the usual droves of international tourists, the store was not busy and shoppers were giving each other the requisite social-distancing space, making the experience of discovering these pieces better. And as a first outing, it also felt safer going to just one big store.
But in the end, all I walked out with was real candy from the kid's section on the very top floor. There were a few questions that held me back from buying. When and where will I get to wear any of this? Will it soon go on sale? Do I really need to buy more clothes? Indeed, the future of retail will need to address shoppers with an entirely new mindset. As Vikram Alexei Kansara writes in our [This Week in Fashion briefing]( "For some players, Covid-19 is a death sentence. For others, it might provide an opportunity for rebirth."
Have a nice weekend everyone.
Imran Amed, Editor in Chief
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