Recovery is on its way

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Recovery is on its way

Despite the uncertainty engendered by the spread of Covid-19, we are seeing many innovative initiatives from all over the retail sector, and the world, to support the network of doctors, nurses and all those professionals who are saving communities with their courage and skills at this difficult time.

To try to lighten the burden, which now is more necessary than ever before, fashion and textile companies are refocusing their businesses to address the urgent need for face masks and hospital gowns. LVMH Moët Hennessy Louis Vuitton announced that it would obtain 40 million medical-grade face masks from a Chinese industrial supplier to distribute to French health authorities. Moreover, Italian brand Prada announced that it’s producing 80,000 overalls and 110,000 face masks at one of its factories for Italian medical personnel. The Stockholm-based H&M Group also announced that it would make masks and other necessary medical equipment, while Inditex, the Spanish fast-fashion group, said it would produce hospital gowns and masks. The industry is doing what it can to play its part.

But it’s not just fashion, Pernod Ricard, the premium wine and spirits company, rethought its production to start supplying hand sanitiser while Smartsheet, the popular work management tech company, has begun to offer free templates to organisations to build a dashboard to prepare for coronavirus issues. They are also offering a template to governments and government agencies to help them plan, track and collaborate on a coronavirus response, with already 10,000 customers using them.

To tackle this global crisis, we must rethink everything: our work, our personal lives, our businesses. We are realising how fast life can change; we must adapt, in the most effective and efficient way possible. It is a credit to humanity to observe how despite the social distancing there is a sense of closeness and fraternity. The virus doesn’t discriminate based on status, nationality, age, creed or colour: we are all in the same boat, none of us is exempt and we are brought together by it, in a strong and reinvigorated sense of community.

Businesses are going through a phase of crisis which seems inevitable. But this will pass and it seems important for brands and companies to manage through the crisis, but it remains critical that where possible businesses move forward and keep going. In fact, in the last week there have been some movements at the top of large companies, despite the pandemic the economy does not stop. Two days ago, Meyer Bergman, the privately-held real estate investment management firm specialising in urban mixed-use and last mile logistics investments, announced the newly appointed Chief Investment Officer, Josip Kardun, looking to expand its focus towards mixed use developments and projects across core European cities, as in Milan with the residential scheme Corti Segrete. On the same day, Mark Reynolds was appointed by Savills UK as the new managing director, while Angus Potterton, the former managing director, is set to take on the role of chairman.

We cannot say how long this situation is going to last, but we must prepare for market recovery and we continue to support all the companies who have placed trust us all these years. When you’re going through hell, keep going.

Anna Alquati, Senior Account Executive, Innesco

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