Must Read: Burberry Denies Rumors of Riccardo Tisci's Departure, Grocery Stores Are Becoming Increasingly Important Beauty Retailers

Stephanie Saltzman

Plus, Christian Siriano receives state funding to produce PPE.

Riccardo Tisci.
Riccardo Tisci.

These are the stories making headlines in fashion on Friday.

Riccardo Tisci isn't leaving Burberry, per Burberry
Lauren Indvik explores how Burberry will cope with the pandemic fallout for the Financial Times, considering the label's shares have declined 40% so far in 2020 and significant layoffs are imminent. Looking to the future, the company's CEO Marco Gobbetti says he believes the luxury market will weather the global health and economic crisis and flat-out denies rumors that creative director Riccardo Tisci will be leaving.  {Financial Times}

Grocery stores are increasingly important beauty retailers
As the retail landscape shifts due in large part to the pandemic, beauty brands may need to shift their strategies and place more emphasis on grocery stores as key distribution channels, writes Rachel Strugatz for Business of Fashion. "Supermarkets are among a handful of essential retailers poised to take advantage of the 'one stop shop' mentality consumers have adopted," she writes. {Business of Fashion}

Can fashion survive a second wave of Covid-19?
This is the question George Arnett asks in a new piece for Vogue Business, as a second wave of coronavirus-related lockdowns has begun to take place across the United States, Europe and Australia. Plummeting revenue, paired with the strain of repeatedly closing and reopening stores, has created a climate which may lead many retailers to bankruptcy before the end of 2020. {Vogue Business}

Christian Siriano will receive state funding to produce PPE
Governor Andrew Cuomo has granted Christian Siriano's company CJ Designs — among 11 other New York companies — funds to produce PPE such as face masks. Of the $6.9 million in total funds, Siriano's company will receive $352,590, per WWD's Jean E. Palmieri. {Women's Wear Daily}

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