Danilo Venturi on Brand Management During the Crisis
by Sofiya Golovnya
It is no surprise the fashion industry is struggling significantly due to the COVID-19 outbreak. In a recent webinar organized by Polimoda, Danilo Venturi, the current director of the institutional organization, talks about how coronavirus is affecting fashion and luxury in Italy and all over the world.
Danilo mentions that Italians are always dealing with problems, be it the current pandemic or the state of the country after WW2, by utilizing their strong entrepreneurial spirit, meaning they just stand up no matter what and do the work.
One of the discussed questions is how the production chain is changing. Mr. Venturi thinks the main difference in production during and after the lockdown will be the return to local manufacturing. Also, the distribution of fashion goods will be much more limited due to closed borders and shipping limitations.
Retail is undergoing alterations right now as well. As many consumers cannot travel freely, they are not capable to go on the regular shopping sprees in fashion capitals of the world. This is why the integration of physical and online commerce will likely take place.
Fashion communications are the next sphere that is going through changes. Magazines and other publications have to update their media strategy and deliver more authentic content to the readers stressed by the crisis. The biggest problem with online media and social networks, though, is the fact that a lot of older people are not so keen on technology.
Danilo also discusses the topic of innovation in fashion and gives examples of some significant moments in the history of style and how these are connected to what is going on in the world. He mentions diversity and sustainability and how COVID-19 is related to these aspects of the industry, too.
The conclusion of Mr. Venturi is that we will go back to normal sooner or later. Industry representatives should focus on their identity, appeal to customers, and the quality of their products. At the end of the webinar, Danilo answered a few questions from the viewers, for example, about the recovery of brands and the changing meaning of luxury.