What impact does Covid-19 have on the Fast Fashion Indus_x005ftry(H&M) and Luxury Fashion Industry (Louis Vitton)?

Abstract

This report is going to discuss the impact of Covid-19 on fast fashion industry and luxury fashion industry. In this paper, it will specifically discuss H&M(fast fashion) and Louis Vuitton since they are quite well-known among the pubic. The research questions are: What is
the impact of Covid-19 on both Louis Vuitton and H&M? What are the challenge for both fast-fashion and luxury industries in the context of
H&M and Louis Vuitton? What are the potential solutions and strategies for improving the current situation and future trends faced by H&M
and Louis Vuitton? The paper uses a mix of qualitative and quantitative method. For the first research question, the paper uses a quantitative
method to demonstrate the revenue changes of both companies because of the pandemic. After that, it uses qualitative method by a questionnaire. All the participants are the staff from H&M and Louis Vuitton. I For the final research question, the report uses a qualitative method. It
asks participants on what can both company do to recover from the pandemic. It also uses academic resources to find out others’ thought on
improvements. It is suggested that H&M should focus on online store and Louis Vuitton should pay more attention to marketing innovation
by launching new collections to attract more customers. It should also focus on online purchase and ensure a on time delivery. It is also suggested that Louis Vuitton should also build a good brand image by engaging with customers.