American off-price retailer Stein Mart Inc filed for Chapter 11 bankruptcy protection on Wednesday, becoming the latest apparel seller to crumble under the economic stress caused by coronavirus-led lockdowns.
As Marimekko announced a 20% fall in sales, it also said it’s planning to restructure its ops. It blamed the pandemic, saying the “global fashion and specialty retail sector is facing the worst crisis in decades”.
Pitti Immagine has unveiled the website hosting all its trade shows until the end of October, featuring exhibitors’ collections and plenty of content and events, like ‘Sustainable Style’, headlined by Y/Project.
Pitti, fashion’s most important menswear trade fair, has praised the EU agreement to create a 750-billion-euro coronavirus recovery fund, and revealed more details of its plans to welcome Dolce & Gabbana in September.