- Luxury retail sales are being hit hard by the coronavirus pandemic, but that hasn’t stopped some of the biggest names in the industry from helping to fight the virus.
- March 21th LVMH has announced that it will order 40 million face masks from China and send them to France to help France cope with a shortage of essential medical supplies.
- Other luxury giants like Kering have donated to foundations that provide medical supplies to those affected by the virus, while individual brands such as Dolce & Gabbana and Bulgari are funding medical researchers.
- As Business Insider previously reported, the fashion and luxury goods sector has been one of the sectors hardest hit by the pandemic and, as a whole, could see sales drop by $ 600 billion this year.
- Visit the Business Insider homepage for more stories.
Luxury retail has lost billions amid the COVID-19 outbreak, but that hasn’t stopped some of the game’s most prominent names from donating millions to help those affected by the coronavirus.
In January, during the early stages of the global epidemic, LVMH, the world’s largest luxury conglomerate, has announced a donation from 16 million renminbi ($ 2.2 million) to Chinese Red Cross. Since then, LVMH has also transformed its perfume factories into disinfectant manufacturers and pledged to send 40 million masks ordered from China to France to help alleviate the shortage of medical supplies in France.
On April 7, Kering announced that it would donate $ 1 million to the CDC Foundation to help provide personal protective equipment and other medical supplies to healthcare workers on the front lines of the pandemic in the United States. The company has already donated around $ 4 million to various organizations around the world amid the pandemic.
Here are some of the most notable designers and luxury brands mobilizing to fight the coronavirus.
