• Saving AltaRoma AltaModa, the fashion shows end under a big top
  • Armani: fashion shows in September in Milan. The designer's revolution continues

Share

01 June 2020 European luxury cuts from 30 to 80% of advertising and weighs on magazines and newspapers, where it was already in general decline. Bloomberg points out, citing the digital marketing agency Digital Luxury Group.
"Nobody knows if brands will return to invest as much as before the pandemic," said the group's CEO, David Sadigh, explaining that they are rather aiming to develop e-commerce.

A huge loss, if we consider that last year the sector is estimated to have committed 26% of the $ 2.9 billion budget to magazines and newspapers.

Examples include French Elle, where the Chanel, Lancome and Yves Saint Laurent perfumes are among the few big ones that advertised last week, compared with at least 26 pages of ads from powerful brands, such as Richemont, Lvmh and Kering in the issue March 6.

L'Oreal CEO Jean-Paul Agon explained the stop during the lock-down on April 16: "" When the shops are closed, it makes no sense to advertise, it can also
be frustrating to advertise products that cannot be buy".