October 4, 2022

Hardwood Paroxysm

All Latest News For You!

From Domino’s to Gap, what’s going on

It’s a real dark moment for Major American chains recently decided to lift their curtains on Italy. In a moment of deep economic crisis caused by the combination of the epidemic and the war in Ukraine, which in the past two years has strongly marked the plans of small and large companies, in recent weeks we have witnessed the decline of some of the major American brands who were in our country and who decided to close their stores.

The companies that closed their doors certainly did not do so easily, with many employees now finding themselves out of work and looking at a tough time for the economy. But which major brands have decided to leave Italy?

Fashion brands welcome Italy

Among the first brands to leave Italy in recent weeks, there are fashion brands that, despite explosive advertising and big investments, have decided to close their business. After farewell to the brand Tory Burch And the fashion brand Banana Republicalso the difference Take the bitter decision to close with investments in Italy and salute our country’s economy.

At the basis of US brands’ decision is an almost unexpected row due to the crisis arising from Covid-19 and its aftermath. In fact, to play a major role in this crisis isHigh level of competitiveness From the fashion sector that has a lot of weight in Italy, more than in many other countries around the world. Indeed, in our country, the offer is quite huge and Italian players, from small to big names in fashion, are an important reference in terms of style and production quality (But historical Italian fashion brands fail too, we talked about it here).

See also  Car and motorcycle incentives 2022, news in Emilia-Romagna - Economy

However, the situation is different for sportswear and streetwear, since in Italy there are no significant competitors for American brands. That’s why brands like Gap or Tory Burch suffered from this crisis and others like Nike or Supreme They were not in any way affected by the negative moment, on the contrary they managed to open other stores.

Even the food says goodbye to Italy with Domino’s Pizza

Big brands in the food sector are also heavily affected by the economic downturn. If Haagen das ice cream parlor was one of the first to welcome Italy, the farewell that has made so much noise in recent weeks is Domino’s Pizza. Domino’s is a pre-Covid brand known for its innovative delivery system Very affected by the epidemic And double competition has cut off revenue from activities throughout Italy.

As for Domino’s, in fact, we can talk about a real one Bankruptcy of the franchise company that runs the chain in Italy Due to stiff competition from delivery apps such as Glovo, Just Eat and Deliveroo, and on the other hand, with individual pizzerias which, in the face of the surge in demand in the last two years of Covid, have in many cases organized their own delivery system. The competition did nothing but precipitate the already ongoing crisis and helped bring about the withdrawal from Italy.

However, the example of Domino’s Pizza serves as a warning to all non-Italian food brands. In fact, it is the brands that suffer above all, which focused on a unified offer, without adapting it to the tastes of the customers of the country, which, instead, was able to do McDonald rejecting the menu in a local key, enriching it with suggestions and ingredients typical of Italian gastronomic culture (Speaking of McDonald’s, here’s what it will be called in Russia).

See also  Stocks are cautious on ECB day. Gas drops to less than 200 euros per megawatt-hour