McKinsey presented the results of a research conducted in collaboration with the Italian fashion chamber and Pitti Immagine.
Instead, the luxury retailer emphasized the markets around the globe where it continues to grow.
As brands and retailers across the U.S. started to reopen after the coronavirus lockdown, chaotic protesting has forced closures and led to a great deal of damage.
Alexander McQueen, Marc Jacobs and Gucci were all early targets of looters, but many more were hit during a night of protesting and unrest.
Fearful of riots and looting, many stores are preemptively closing just days after beginning to reopen in LA.
According to a survey released by Deloitte, 70 percent of strategic and financial investors are keen to invest in luxury companies.
An Altagamma webinar shed the light on the role of sustainability in aiding brands to maintain an emotional connection with consumers after the pandemic.
The luxury brand is known for selling fashion parkas with price tags of $900 on up.
Yves Saint Laurent sold more than 100,000 lipsticks in two weeks, and sales of La Mer grew eightfold since the beginning of May on the platform.
The storied house said the coronavirus shutdowns have “absolutely no link with this decision.”
The news comes as delivery giant FedEx limits the number of packages from about a dozen retailers.