The New York Times
As China began to reopen last fall, AGL was able to open in its first shop-in-shop, in the SKP shopping complex in Beijing. It also finished renovating a larger showroom on the Via della Spiga in Milan, secured certification of its environmental impact management and moved its e-commerce activities in house,the sisters said. While business was down 28 percent in comparison with its 2019 returns, its online sales have been growing and the sisters say they remain optimistic.
Claudia D’Arpizio, a partner based in the Milan office of the management consultants Bain & Company, said she was expecting a wave of consolidation.
“There was already an ongoing process, with suppliers seeking help from private investors to develop systems and sustainability in order to better serve the fashion and luxury industries,” she said. “In particular, we’re seeing a younger generation taking the helm of these small laboratories, and they are both ambitious and willing to have a more managerial approach.”