News Briefs – Page 4
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News briefs
LVMH donates ventilators, makes masks
LVMH , the luxury giant controlled by Bernard Arnaul t, is donating 261 ventilators to French hospitals to help fight the coronavirus pandemic. Twenty of these devices have already been delivered to hospitals, according to Bloomberg . LVMH has also reopened 12 of its 16 Louis Vuitton handbag factories ...
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News briefs
Tod’s owners help healthcare workers’ families
In an appropriate gesture of solidarity, the family of Diego and Andrea Della Valle , which controls Tod’s , has reportedly allocated €5 million to support the families of healthcare workers who have lost their lives in the fight against Covid-19. The funds will be managed by Protezione Civile ...
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News briefs
Tourism drought expected to reduce European luxury sales
LVMH said it expects revenues to drop by 10 to 20 percent year-on-year in the first quarter of 2020, as restrictions to combat the Covid-19 pandemic have forced the group to close production sites and stores in several countries. Separately, the bank RBC Europe said that overall global ...
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News briefs
Sanita donation
Sanita , the brand specializing in professional clogs, has announced that it will be donating a part of every purchase from April 3 through the end of the month to support medical providers and hospitality workers, in connection with the ongoing coronavirus crisis. These professional categories also happen ...
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News briefs
Havaianas for healthcare workers
Alpargatas , the Brazilian group that owns the Havaianas brand, has converted its production lines to produce clogs for the medical sector. The company will donate 18,000 pairs of shoes designed for use by healthcare professionals in São Paulo hospitals, made in the Havaianas factories in place of flip-flop ...
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News briefs
France faces a significant rise in bankruptcies
A French legal information provider Infolegale, said that France faces the risk of experiencing a first “significant” wave of corporate bankruptcies from the end of April as the most fragile companies succumb to the economic impact of the Covid-19 pandemic. Based on bankruptcy rulings issued between April 1 and 3, ...
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News briefs
Clarks plans to permanently close some U.K. stores
Clarks intends to permanently close a “small number” of stores, which will not reopen after a nationwide lockdown is lifted in the U.K. The footwear company has 347 stores in the country, which were all closed due to the Covid-19 pandemic. According to the daily The Sun , Clarks ...
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News briefs
Foschini to forgo rent payments during South African lockdown
The South African retailer Foschini has said that it will not pay rent on its stores during the nationwide Covid-19 lockdown that began on March 27. “Once the situation normalizes we will then be able to assess the full financial impact on the business and will engage with you ...
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News briefs
Portuguese footwear factories are producing masks
Several footwear companies in Portugal’s northern towns of Felgueiras, Oliveira da Azemeis and São João da Madeira are temporarily replacing the production of footwear with the manufacturing of medical masks, according to the website of the country’s footwear association, Apiccaps . The equipment will be donated to healthcare professionals and ...
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News briefs
Ferragamo contributes to renovation of Florentine hospital
In a move intended to alleviate the healthcare problems caused by Covid-19, Salvatore Ferragamo and a Florentine foundation have financed the renovation of two wards of a disused hospital in Florence, I Fraticini, which now has 60 beds for patients recovering from the novel coronavirus or who need to ...
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News briefs
Confindustria asks landlords to postpone rents
The Italian government having halted most commerce until April 3, Confindustria Moda has written to commercial landlords asking them to postpone the payment of rents or renegotiate leases for the Italian fashion retailers it represents. The association’s president, Claudio Marenzi , worries that the situation in Italy is far ...
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News briefs
Global bankruptcies expected to rise by 25% this year
Global bankruptcies are expected to rise by 25 percent this year because of an economic recession triggered by the Covid-19 pandemic, according to a new forecast released by Coface. The French credit insurer’s forecast assumes a gradual economic recovery starting in the third quarter and rules out a second wave ...
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