Saint Laurent and Balenciaga Will Soon Be Making Masks to Fight Coronavirus
The Kering Group, which manages brands such as Gucci, Saint Laurent, and Balenciaga, has announced that it is playing its part to combat the COVID-19 pandemic.
The company is doing so in the best way it knows how—by using Saint Laurent's and Balenciaga's workshops to manufacture masks. According to the release, the masks will be made while complying with the strictest health protection measures for staff members.
Before the manufacturing goes underway, however, the group is providing the French health service with three million surgical masks from China. Kering has also made a financial donation to the Institut Pasteur to support research on COVID-19.
Kering has been active in the wake of COVID-19. The group has already sent aid to four major hospitals in Lombardy, Veneto, Tuscany, and Lazio. It has also donated to the Hubei Red Cross Foundation to fight the spread of COVID-19. Recently, Gucci provided surgical masks and medical overalls to Tuscany.
On March 20, Kering released an initial estimate of the COVID-19 epidemic's impact on sales. The group will reportedly experience a 13- to 14-percent decline from the first quarter of 2020. The second quarter of the year is expected to be sharply impacted by the decrease of local clientele and tourism.
According to the report, Kering is considering additional measures to bounce back in the short- and medium-term.