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MILAN (Reuters) - Luxury puffer jacket maker Moncler is betting heavily on younger consumers and the Chinese market to help sales bounce back from the coronavirus crisis, its boss told Reuters, seeing scope for a recovery from the second half of 2021.
Makers of luxury handbags, clothes and jewellery have been hit hard as the global health emergency has shut stores, shrunk demand and exposed the industry's reliance on Chinese tourists.
With a new wave of restrictions in much of the western world in the run-up to the holiday season and uncertainty over the timing of a recovery, luxury companies are being forced to find new ways to lure shoppers, including making more use of social media to live stream collections as well as sell products.