Luxury Retail in Trouble! Matches Fashion & more!

Luxury retail is in jeopardy but what is worse is the business and employee impact when a company goes out of business. Let's talk about it. Luxury sales for Gucci, Burberry, and in China have been on a decline. First, we saw Farfetch hit financial issues and now Matches Fashion is going into administration.
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www.voguebusiness.com/story/c...
www.theguardian.com/business/...
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[@HappinessSparkles]

It’s so sad to see so many companies struggle ! Even thought the word recession is not being used ,I do believe we are all struggling with the high cost of living right now
It’s really sad
Thanks for sharing
Hugs Frances ❤

[@bagsandlifestyle]

@@HappinessSparkles Yes, it is. I just watched a video from Hannah Rickets and she showed a popular street in London where many shops have closed. You’re welcome ☺️ thank you for watching

[@ddbookie]

Great video Endia!!! It’s good to point out the flip side of things. The sales are good and I have not really had a chance to enjoy them for people are taking advantage of the sale and are buying. Everything that I wanted is pretty much sold out. I also did not know what the process was for brands and their payment process. I thought it was upfront automatically so they would never feel it. Thankfully Otiumberg has their own website and their still in an affordable price point

[@bagsandlifestyle]

Thank you! Yes, thanks to you I looked them up on Matches Fashion. Then, checked out their website to see other items in the collection.

[@NothingButBags]

I have never heard of the company before. So this video was very informative to me. Having worked for companies who have laid many off I can empathize with their employees. People buy homes and send their kids to school with the expectation that they will have a job to pay for it. I also feel for any business who will lose money as a result. But I do plan to run over there and check out what’s 70% off. 🏃🏾‍♀️

[@bagsandlifestyle]

Right! Same here. I hope you find some goodies. The handbags were pretty much gone between 10%-20% offers 😕

[@loyayyay]

Great video! In my experience, retailers like this have a mix of stock they buy for resale, and stock that's under concession/consignment, i.e. stock ownership remains with the producer of the items. Producers then also determine price and discounts and the retailer gets a share of recommended retail price.
So I'm thinking Victoria Beckham's stock is under consignment and she won't let it go to waste with a company that's going under. What Matches has on sale, particularly at very high discounts, is probably own stock they're trying to get rid off.
It's nice for us as consumers that they have discounts, but I'm always cautious shopping at places that are in financial difficulty. A lot of consumer protection here is lost when the seller goes out of business.

[@bagsandlifestyle]

@@loyayyay Thank you for the additional insight! That would make sense in Victoria Beckham’s case. I surely hope everyone involved gets what they need and the employees find something better.

[@HappinessSparkles]

This is such a hot topic right now !!!

[@bagsandlifestyle]

It yes!!!!

[@BrittanyBHawkins]

New sub🫶🏽

[@bagsandlifestyle]

Hi! Thank you 😊