How does Corona virus affect the world fashion industry?
The outbreak of acute respiratory infections caused by nCoV is the reason why fashion weeks in the world can be delayed indefinitely.
“In Beijing (China), we often see about 600 to 800 people walking through the door, of which 90 to 120 customers come in to buy,” is the latest report of Vogue when conducting a pre-epidemic survey about the acute respiratory infections caused by nCoV.
After only a short time, the bustling painting in Sanlitun – Beijing’s busiest shopping district – disappeared because of a virus called corona.
Currently, having 5 people to come in for shopping has become too luxurious with fashion brands in the world’s most populous country.
Sanlitun was a busy shopping area in China before the outbreak. Photo: Stringer.
Not only the problem of product consumption in China, the assurance of orders of major fashion brands in Europe is also difficult.
Typically, most of the autumn 2020 collection orders from Europe arrive in February. Production will take place in China in time for delivery in April. Currently, all operations may be delayed. to May or June.
Gillian Meek – president of Keds shoe company – said the company had to organize a meeting in the middle of the night to discuss upcoming campaigns.
“Asia is really important to us,” the representative said.
Beth Cross – CEO of Ariat shoes brand – acknowledges that China is the company’s main production partner. This person said it was chaotic when some employees returned to China and did not know when they would return. Besides, the company’s cooperation factories in China also closed, with no sign of reopening.
Before the corona virus crisis, LVMH president and CEO Bernard Arnault said: “If it is resolved within the next 2 months, things will not be terrible. In two years, it is a different story.”
Many in the industry also shared concerns about whether upcoming big fashion shows such as Milan Fashion Week (end of February) and Shanghai Fashion Week (end of March) were delayed to prevent block the ability to spread the virus.
Delaying fashion shows can also seriously affect fashion supply chains.
Large fashion shows may be delayed. Photo: CGTN.
According to Bain & Company research, 35% of luxury purchases (fashion, watches and jewelry) in 2019 are made in China or by Chinese nationals traveling abroad.
The global luxury fashion industry is heavily dependent on China’s huge manufacturing and consumption power. According to numerous reports, the country is also home to more than half of the world’s textile and apparel production. However, things have slowed down due to the widespread virus situation.
