The Head of Communications @LVMH Antoine Arnault Spoke About the Future of Fashion Weeks
Antoine Arnault, Head of Communications and PR at LVMH, gave the first big interview to the French magazine Quotidien after the pandemic. He spoke in it about his forecast regarding the fashion industry in general, as well as the impact of the crisis on LVMH in particular. First of all, he noted that cruise shows will most likely cease to take place - and brands will no longer take the chief editors of fashion magazines to exotic venues for shows. “This system has come to an end,” says Arnault. He also added that he was not very optimistic about the Fall Fashion Week in Paris and doubted that the society would be ready for it.
However, Arnault does not share the position of some brands that plan to permanently stop participating in Fashion Weeks. “I think fashion shows should go on. After all, Fashion Weeks have a very large economic impact. We feel bad for buyers who cannot come and place orders. The abolition of shows for world fashion capitals, such as Paris, New York and Tokyo, is a huge loss and especially financial loss. That is why we should not throw loud phrases so sharply that these are all remnants of the old world and we need to get rid of them. In this situation, it is important to find a balance, ” Arnault argues about the future of Fashion Weeks.
It is too early to predict the impact of the pandemic on the LVMH conglomerate, according to Arnault, but he is confident that the luxury sector will surely recover and return to pre-crisis economic performance. “I can’t talk about the luxury market as a whole. However, I can say for sure that the LVMH group is showing signs of recovery, especially in Asian countries that quarantined before Europe. In France, the past two weeks have also been quite encouraging in terms of sales, ”he added.