While the UK and parts of Europe are still in lockdown, sales in parts of Asia, such as China and Korea, have bounced back. As per Sourcing Journal, nearly 90 per cent of Prada SpA’s sales in the second half were driven by Mainland China (up 52 percent), Taiwan (up 61 percent), and Korea (up 22 percent).

British luxury firm Burberry expects its revenue and adjusted operating profit in the fourth quarter to be higher than expected due to a strong rebound in sales since December. The brand expects comparable store sales to increase by 32 percent while group revenue is expected to fall by 10 percent to 11 percent, and adjusted operating margin to be in the range of 15.5 percent to 16.5 percent.

British retailer JD Sports Fashion will acquire a 60 percent stake in Marketing Investment Group SA (MIG). Founded in 1989, MIG is majority owned by brothers Andrzej and Zbigniew Grzçaka. It operates 410 retail stores and e-commerce sites across nine countries in Central and Eastern Europe. The retail businesses sell a wide range of sports fashion footwear, apparel and accessories from leading global brands, mostly under the Sizeer and 50 Style nameplates. For the year ending January 31, 2020, MIG generated revenues of $277.6 million.