At the beginning of this summer, luxury fashion brand Chanel made an exciting announcement about their 2019-2020 cruise show taking place in Hong Kong. However, due to the current situation in the city, the event has been postponed.
Chanel released a brief statement stating that they have decided to delay the fashion event in Hong Kong to a more suitable date, given the ongoing situation. This decision comes as a disappointment to fashion enthusiasts who were eagerly waiting for the unveiling of Chanel’s new collection in the city.
Hong Kong has been facing turbulent times with social and political unrest. The city, which holds a significant share of the global luxury market, has experienced a decline in retail sales. In July alone, sales dropped by 11.4%, which is the largest decline observed in over three years. This decline has been attributed to the continued tensions in the city, making it an unfavorable environment for hosting a fashion show.
However, there is a glimmer of hope in the luxury sector after the Beijing government decided to withdraw the controversial extradition bill. This move has brought some optimism, and as a result, luxury brands such as Hermes and Kering have seen a rise in their shares by 5.25% and 3.3% respectively.
Despite the postponement of the fashion event, Chanel’s physical stores in Hong Kong will still showcase the collection starting from November 6th, as previously planned by the fashion house. This will provide the locals with an opportunity to explore and purchase pieces from the latest collection.
The Cruise 2019-2020 show was initially presented in Paris on May 3rd, taking place in an intricately transformed Grand Palais that resembled a train station. This unique setting added to the allure of Chanel’s new collection and created a memorable experience for attendees.
As the situation in Hong Kong continues to evolve, it is uncertain when the postponed Chanel cruise show will take place. However, fashion enthusiasts remain hopeful for a future date and eagerly anticipate the unveiling of Chanel’s new collection in the vibrant city of Hong Kong.
Useful links:
1. Chanel postpones Hong Kong fashion show amid protests
2. Hermes and Kering shares rise as investors find hope in Hong Kong’s luxury sector
