Due to global supply chain disruptions, Harrods, the British luxury retailer, has postponed its summer discount sale by two to three week.
Supply chain disruptions have impacted a wide range of fashion categories, from luxury to high street, also retailers must adjust their calendars to maximize full price sell through while maintaining stock levels.
Harrods becomes the latest player in the high-end retail space to be impacted by global product shortages caused by China’s strict lockdown and the ongoing war in Ukraine.
Michael Ward, Managing Director, Harrods, said, “Our supply chain is running two to three weeks behind where it should be. A good example of that is we’ve just delayed the summer sale for two weeks because I need another 10 percent of new-season stock to allow me to function into the New Year.”
Besides, the company continues to benefit from increased demand for luxury fashion goods, particularly from Middle Eastern, American and British customers.
Value fashion chain Prtimark also said this week that it was closely watching events in China, where lockdowns were affecting some factories and ports, threatening potential disruption to deliveries of stock.