Retailers are holding 2020 fashion for 2021 to avoid discounts

When fashion companies have too much unsold stock, they often use discounts to clear it out and make room for new clothes. To solve the problem many are expected to rely on discounts, but some companies are taking a different path, choosing instead to stash their unsold inventory and try selling it next year once it’s in season again. On a call with investors today, John Idol, CEO of Capri Holdings, which owns Michael Kors, Versace, and Jimmy Choo, said that’s the route the company will take with much of its summer inventory, which never even made it to stores.