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‘It’s been tough’: luxury fashion magazine Vogue Singapore’s editor-in-chief on its ‘super difficult’ launch amid Covid-19 chaos, downturn
- Between the announcement of Vogue Singapore’s launch in January and its debut this month, everything changed for the luxury fashion industry because of Covid-19
- Editor-in-chief Norman Tan talks about the difficulties he and his team overcame, and the issues Vogue’s 27th international edition will focus on
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The long-awaited first issue of Vogue Singapore, the 27th edition of the glossy fashion magazine owned by publisher Condé Nast, is out, both in print and online.
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When Condé Nast announced the edition’s launch in mid-January, the world was a very different place. Since then the coronavirus pandemic and ensuing financial crisis have battered the global economy, taking a toll on the luxury industry in particular.
According to consultancy Bain & Company, the global market for luxury goods is expected to contract by 35 per cent to 39 per cent in 2020, while marketing agency Digital Luxury Group reported in June that luxury brands have cut advertising budgets by between 30 per cent and 80 per cent as a result of the economic downturn.
This month the Monetary Authority of Singapore predicted that the city state’s economy would contract by 6 per cent this year, with wholesale and retail trade among the sectors most impacted.
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