Corona virus impact fashion world – This is how designers and fashion brands deal with the crisis.
The corona virus has now spread to over 100 countries around the world and the World Health Organization classified it as a pandemic on March 12, 2020. Numerous museums, theaters and shops have to remain closed, people stay at home and many events such as the “Met Gala” and “Coachella” have been postponed. Decommissioned factories, closed shops and canceled fashion shows and trade fairs – it is no surprise that the fashion industry is also affected by the COVID-19. Everything about the corona virus impact of the fashion world and how world-famous designers deal with the crisis can be found in our article!
The fashion world is a global, economic driving force and, as a billion dollar industry, it unfortunately cannot remain unaffected by social events and crises such as the Corona Virus. According to a study by Bain and Company, around 40% of global luxury shopping is done in China or by Chinese tourists. Many fashion designers such as Chanel, Burberry and Versace or Nike, Adidas, Ikea and Apple have already closed more than half of their stores in China or are working with shorter opening hours. But not only that – in addition to fashion shows, many fashion weeks were also canceled, including in Moscow, Beijing, Shanghai, Tokyo and Melbourne.
Effect Corona virus fashion world – This is how famous designers reacted worldwide
- ARMANI – Designer Giorgio Armani announced on February 22 that he would not be hosting a public runway show in Milan for his 2020 fall collection. Instead, the show was filmed in an empty theater and published on the brand's official website and social media platforms. In addition to these measures, the company closed its factories and offices in Northern Italy indefinitely. On March 5, it was announced that the Dubai 2021 cruise show, scheduled to take place on April 19 and 20, will be postponed. The event would have coincided with the reopening of the “Armani” boutique in the “Dubai Mall” and the first decade of the “Armani Hotel” in Dubai. The show is now scheduled for November. To help the victims of the corona virus, the fashion house has to donate 1.25 million euros to a number of Italian hospitals and institutions.
- BURBERRY – Burberry has also indefinitely postponed the launch of the fall collection, which was due to take place on April 23. The collection consists of exclusive models that were thematically created for the Chinese region.
Most luxury brands are affected by the corona virus
- CARTIER – The “Cartier Creations” collection should have been released on March 3rd. Now, unfortunately, it has also been canceled and no new date is currently selected.
- CHANEL – On February 17, the fashion giant announced that the planned show “Métiers d’Art” in Beijing would be postponed. The collection was originally presented in Paris on December 4th. In addition, the cruise show, which was to take place on May 7 on Cappri, was canceled. The Parisian fashion house announced that it is currently examining how the collection could be shown “at a different time or in a different format”.
- GUCCI – Gucci was also affected by the corona virus impact of the fashion world and postponed the “Cruise 2021” fashion show planned for May 18 in San Francisco. “A decision on the new location and the date of the show will not be announced until the situation and the situation calm down,” Gucci's representative told The Hollywood Reporter.
- LVMH – The world's leading luxury group also helps in the fight against the corona virus. The company currently uses three of its perfume and cosmetic manufacturing factories (Christian Dior, Givenchy and Guerlain) to manufacture hydroalcoholic gel. From March 16, the gels will be distributed free of charge to many French hospitals.
What drop in sales does the fashion industry expect?
Many fashion and cosmetics companies are faced with large sales losses due to the negative corona virus impact of the fashion world.
- CAPRI HOLDINGS – The fashion giant, which Versace, Jimmy Choo and Michael Kors own, has already closed more than 150 of a total of 225 stores in China. According to the company, the company expects sales to drop by approximately $ 100 million in the next quarter.
- TAPISSERIE INC – The company, which owns Kate Spade and Stuart Weizmann, announced that it expects sales to decrease by approximately $ 250 million in the second half of the year.
- UNDER ARMOR INC – The sportswear brand expects sales in the first quarter to suffer $ 50 to $ 60 million in losses.
And while fashion brands and designers are confronted with the corona virus impact of the fashion world, more and more celebrities and fashion influencers have been seen wearing face masks as fashion accessories. Billy Aylish was one of the first to appear at the annual Grammy Awards with a Gucci face mask.
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