Sequestered at home since mid-March, many workers have adopted a new 'work uniform' that better suits their new environment. The dress code shift has naturally also led to a change in what consumers are buying.
But even stores such as M.M.LaFleur and Suitsupply, which are popular with that demographic, are taking a big hit during this time.
Sarah LaFleur, founder and CEO of M.M.LaFleur, told NBC News, “We’ve had to get creative with the way we market and talk about our clothes throughout the past few months. We’ve needed to reframe our marketing a bit so customers understand our clothing works well for this moment.” Work style in many industries had already become much more casual, from hoodie-wearing executives at Twitter and Facebook, to suit-and-tie stalwarts such as Goldman Sachs,The pandemic's new level of casual dress could bolster that movement, making buttoned-up formal wear in the office seem as out of date as the typing pool or the switchboard.
LVMH, the biggest luxury goods company in the world and the owner of brands such as Louis Vuitton, Christian Dior and Givenchy, has also noticed a turnaround in sales. For the period between April and June, it reported ain sales within its fashion and leather goods segment and a 52 percent decrease in its watch and jewelry division. But since June there have been “strong signs” of a recovery, the conglomerate said on Monday.
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