LET’S STOP AND SHOP

THE IMPACT OF COVID-19 IN CLOTHING AND FASHION INDUSTRY

-By Richa Christopher

The Covid-19 epidemic has had a profound effect on almost the entire industry, whether it is unprecedented pressure on health services, unnecessary business closures, or supermarkets that need to consider their re-storage strategies and opening hours. It follows that the fashion industry has also been facing the effects of the global health crisis.

Luxury Brands Donate
Although dismissed as futile - compared to the previous service industries that strive to keep people alive and well fed - the fashion industry is a creative mecca and is one of the world's most important financial instruments. The deterioration of the fashion industry will see a negative impact on the global economy, not to mention the declining or unemployed status of millions of artists, designers, tailors and more.

The virus has travelled at different rates, and has had different effects in different countries. Recent lockout measures in the UK still encourage those who can work from home to do so, but those who do not are strongly encouraged to return to work (next to the loose rules regarding exercise and outdoor leisure time).Without much relaxation (or even promotion in places like France) the Covid-19 epidemic continues, and the future of the fashion industry remains in balance.

Influencers And Celebrities Rally

While most of us 'non-essential' employees may feel like living in a duck during this epidemic, fashion promoters and celebrities have taken it upon themselves to find ways to donate. Stylists Anna Rosa Vitiello and Bettina Looney, for example, include a detailed wardrobe on their Instagram news, to raise money for both Doctors Without Borders and Help Them Help Us. We wanted to create an exciting and collaborative approach to helping raise funds for our needs at this time. We love fashion and it can be a perfect car to recycle so we've found a way to combine these two things and the response has been very positive. We will continue to host weekly sales on Monday, for as long as possible, in order to continue to raise money and raise awareness and will be working with amazing small products to help this. While the Vestiaire Collective has received clothing donations from lovers of Kate Moss, Thandie Newton, and Camille Charriere, to re-sell by helping local charities including Foundation Hôpitaux de France-Paris, World Health Organization and Lombardy Regional Fundraising.Despite the huge impact Covid-19 is expected to have on the global luxury goods market, fashion houses are on the rise to offer this time of crisis. In this time of global health crisis, we must all address the urgent needs of our global communities,' said Tiffany & Co Foundation Chairperson and President Anisa Kamadoli Costa, in a statement announcing the company's $ 750,000 (£ 606,350) fund in the COVID fund. -19 Solidarity Response Fund of the World Health Organization, funded by the UN Foundation and $ 250,000 (£ 202,120) in the NYC COVID-19 response fund and the Impact Fund of the New York Community Trust.

We are proud to support organizations that provide emergency assistance to communities affected by COVID-19, including our hometown of New York,' concludes Kamadoli Costa.

Tiffany & Co has also announced that they will be comparing employee contributions to any eligible non-profit organization that supports the assistance of COVID-19. LVMH initially donated $ 2.2 million (£ 1.78) to Red Cross China and then re-branded their perfumes and cosmetics to produce bulk hydroalcoholic gel and promised 40 million masks. Kering and his family have donated to the Hubei Red Cross Foundation in China and have since donated to four major Italian hospitals. They also join LVMH in providing medical masks.

Since the middle of the march, the French factory Lacoste has seen nearly 100 of its volunteer’s to build 145 washable and reusable masks. The brand explained that these masks are designed for those who work for important businesses to protect themselves in their daily lives. The Argentine factory brand also saw dozens of volunteers assisting in the production of robes and face masks donated to local hospitals.

Fashion Shows Cancelled

During the final week of the AW20 season, Covid-19 made its way from Asia to Europe, and Milan's fashion week was directly affected.Understandably, Chinese brands were canceled quickly and consistently - Angel Chen and Ricostru were the first to do so during Milan's fashion week. Also in Paris, followed the cancellation of Chinese product, including Masha Ma, Shiatzy Chen, Uma Wang, Jarel Zhang, Calvin Luo and Maison Mai. Among the first major Westerners to respond were Chanel and Armani.

On February 17, Chanel announced that they would no longer be able to collect their Metiers d'Art collection in Beijing in May.

On February 22, as the virus became more prevalent in northern Italy, Giorgio Armani canceled the invitation to guests within 24 hours, asking them to watch the live broadcast of the show instead.

At Paris Fashion Week, Chanel, LV, Dries van Noten and Paco Rabanne's shows continued although the two brands barred American workers from coming, and the latter two provided guests with a protective mask. Minor actors Rosie Assoulin, Agnes B and APC did not show up, as did Maison Cartier, who stopped its Cartier Creations launch.

On March 2, Gucci announced the cancellation of its San Francisco Cruise 2021 exhibition, which will take place on May 18. On March 16, both Chanel and Dior canceled their first May exhibitions, both to be held in Italy. But with Italian connectivity or not, Resort / Cruise shows would be canceled all over the world - such as Prada in Japan, Max Mara in St Petersburg, Hermés' in London and Armani in Dubai.

World Fashion Week later on the calendar are also set: Tokyo (16-21 March), Beijing (25-31 March), Shanghai (March 26 onwards), LA (end of March), Sao Paolo (April 24-28) and -Sydney Australia's 25th edition (11-15 May).

Physical Stores Close

Reports of British High Street struggles have been the norm for a number of years now, with a change in consumer trends, a drop in feet and a rise in headaches due to its decline. However, few would have predicted the current epidemic and its subsequent impact on buildings that are already fragile and muddy.

Prior to the government's announcement of the official closure on March 23, Primark, H&M Group, Inditex and Arcadia had all announced the closure of stores.

Reputable British stores such as Harvey Nichols, Harrods, Selfridges and Liberty are also temporarily closing the store.

Selfridges led the way by announcing the closure on March 18, but were quick to add that ‘Selfridges employees will continue to be paid for the hours they spent during our closure’. Harvey Nichols followed on March 19, and Liberty and Harrings on March 20.

John Lewis also announced that for the first time in its 155-year history, 'during that time we have faced many difficult times, including two world wars and the financial crisis of 2008', that they will be closing their stores on the same day the Prime Minister. Minister Boris Johnson has announced a nationwide closure.

Many of these brick and mortar businesses have previously assured customers that their online stores operate more or less as usual, with potential delays in delivery and extended refund times, but as such no one has been able to offer reopening dates.

Predicted Financial Losses For Fashion Brands

With unnecessary stores closed and job losses high (in the UK the department of labor and pensions received nearly a million applications for universal credit in two weeks), it is not surprising that fashion brands are expected to see financial losses as a result of covid-19 epidemics. In the luxury sector, the products are expected to experience a € 10 (£ 8.78) billion decline in luxury sales this year, according to a new report by Alta gamma, BCG and Bernstein. The industry could lose € 30-40 (£ 26.34-35.12) billion in sales this year as sector value drops to € 309 (£ 271.30) billion down to five years, reports in business of fashion. Luxury products are heavily dependent on Chinese consumers, who have not only driven 70 percent of global growth since 2012, but have been the hardest hit by the Covid-19 outbreak so far. The britain's highway is likewise preparing for a major loss, with Next's senior manager saying: Our industry is facing a crisis that has never been seen in living memory.