What are the long term consequences of Covid-19 crisis on luxury employment ?

[Tarik Lakehal]

Although my store is closed until further notice, we are still paid by the company. I cant imagine of situation in other countries or businesses. Luxury retail was already suffering from online selling competition, i think after this sanitary crisis online businesses will be strengthened. Stay safe everyone.

[Mohammed Alex Mzaour]

We are headed toward a major health and financial crisis, Luxury Industry will be strongly impacted. At Joblux we rely on telecommuting now more than ever in order to support our community.

[Genny Woods]

A friend of mine sent that picture …In China … business is bouncing back already …

[Rachel Mao]

Solid heritage brands will survive and even earn market shares after the covid-19 crisis is over, however it wont happen before smaller brands go out of business…each day of store closing is cruciall for new brands or smaller houses. Besides luxury clients migh also have other priorities after the crisis is over …

[Giulia Cristofori]

Those who know me, know that I am a person fascinated by the theme of luxury, by what luxury represents (at least for me) the dream, escape, research, innovation.

Yes, because in all fields, whether we talk about fashion,technology,automotive, what we call luxury is also a driving form of innovation. It can afford to give less weight to the constraints that in all “normal” companies are imposed for the development of a product: costs, economies of scale, time and focus mainly on product quality …and above all it can have ambitious purposes. Not the simple improve of the product that is a bit old and needs updating, it can afford to be disruptive.

I’ve heard top economists say everything and the opposite, about how will perform luxury after Covid.
My personal opinion on the subject is this. Perhaps this crisis has made us understand that luxury will have to vary the objectives of its research (even if many operators already do) and concentrate efforts on generating ideas that are more sustainable, eco-friendly, ethical and low-impact. That they have a more human dimension.

However, especially being Italian,let’s not forget that we need luxury to remain in good shape, not only to keep our GDP and our export,but also because it is a fundamental driver for global innovation!