How the Luxury Fashion Brands Adjust to Deal with the COVID-19

Abstract

Although, the luxury industry has been considered immune to uncertainty and crisis, the luxury industry is currently facing another crisis which is the COVID-19 crisis. People begin to isolate themselves and face-to-face contact becomes less and less in the hopes of stemming the spread of the virus. The COVID-19 has affected people’s daily life and the economy. In order to handle the crisis, the luxury brands implement the special marketing strategies. The aim of this study is to investigate how the luxury fashion brands do in order to overcome the COVID-19. The research conducts the inductive contents analysis. We analyze the marketing actions of top 10 luxury fashion brands in the period of coronavirus crisis. The marketing strategies are summarized as 1) the product donations, 2) the monetary donations, 3) the price adjustment strategies, 4) turning to e-retailing, 5) trustworthy communication, and 6) the fashion shows strategies. The luxury fashion brands promptly and actively conveyed the brand image and deployed the correct brand communication. They improved brand affinity through cause marketing and maintained business through online retailing and online marketing strategies.