In Via del Corso, shops reopened to the public after Italy's closure due to the pandemic. Rome, May 18th, 2020.Italy's retail industry is amongst the hardest-hit sectors by the coronavirus pandemic in Europe.
Business Insider asked some experts on how Italy's luxury fashion and retail sector has been impacted and what it will look like going forward.The retail gloom includes out-of-fashion stock, uncertainties about the revival of tourism, and financial woes. But there is hope for those unafraid to revamp their business models and make a comeback.
Worst hit were the more than 1,600 companies in the artisanal sector in Italy's north-western Piedmont region, bordering Switzerland and France, she said. At the outset of reopening, most retailers will wait it out to observe what initial demand looks like before taking employees off furlough, she said.
People rest in front of a closed Giorgio Armani luxury boutique in Via Condotti on May 13, 2020 in Rome."significant commitments in words, and very little in practice"
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Could this be a pivotal point in the future of street retailers? Online retail has seen substantial growth over the last few years and this pandemic may have caused a further increase in the demand
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