This week’s unfortunate beginning in Boston partly hindered some of this week’s retail numbers, particularly in major cities in the nation. Following the horrific attacks on participants and spectators at the Boston Marathon on Monday, major metropolitan areas likely saw a slight freeze in sales for a couple of days, since most cities were on edge following the attack. Reports have shown that there has been some spending in Boston and other areas, but many shops closed for most of the week as “the morale of the city is not up to shopping, and rightfully so,” a source said in a WWD report.
Despite Monday’s events, this week brought about some bouts of good news. For example, Burberry and L’Oreal reported phenomenal first-quarter growth of 11 and 5.1 percent, respectively. Likewise, high-end automakers have been seeing great numbers so far this year. This week, Bentley reported that sales were up 26 percent globally and 35 percent nationally, Porsche saw 35 percent sales growth, Audi was up 7 percent and Jaguar Land Rover sales grew 17 percent in the first quarter. Since automakers are big-ticket items, it’s important to note that affluent consumers may not be that worried about spending anymore, especially on items that they consider good investments.
Lastly, Versace and Salvatore Ferragamo both have exciting product launches and relaunches. Versace is relaunching Versus, a line that was killed in 2005 and revived in 2009. Versus is now being handled by J.W. Anderson. The line will be digitally-focused and non-seasonal, featuring capsule collaborations with young designers as well as iconic pieces from Versace. The collection is being marketed digitally with a countdown date to its launch next month. Meanwhile, Ferragamo is relaunching its Su Misura Made-toMeasure line to include tailored men’s shirts. The addition to its customized offerings will be headquartered in its New York flagship store and will be promoted via in-store efforts.