By Pauline Rady, Group Director, Spark Foundry MENA
The dramatic spread of COVID-19 has disrupted lives, livelihoods, communities and businesses worldwide. The luxury sector pivoted to address urgent public-health needs: factories that produced scarves and perfume shifted to manufacture facemasks and hand sanitizers during the pandemic.
The pandemic has certainly shaken some of the radical aspects of the luxury industry, causing a behavioral change for consumers and retailers alike.
The global ban on international travel caused the biggest impact on the luxury industry. Global shoppers normally generate approximately 20% to 30% of luxury goods revenue that is no longer achievable an
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