Net income dropped 99% year-over-year.
The luxury brand is taking “time to heal.”
“The extent and duration of COVID-19 disruptions remain uncertain.”
But it’s not at the brink of bankruptcy.
The BFC and CFDA have issued an optimistic joint statement.
Pushing the company’s value to $800 million USD.
Its founder Jeffrey Kalinsky will also go into retirement.
The world’s second-largest luxury conglomerate struggled with the global pandemic.
Continuing to pay exec. bonuses while missing debt payments.
The animated image platform will soon be integrated with Instagram.
The richest man alive is unlikely to be replaced any time soon.
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