Coronavirus’s impact on Worldwide’s Fashion Industry.
The spread of the coronavirus outbreak continues to impact the fashion industry. Major trade shows in China have been postponed indefinitely and the timely production of fall collections is in danger. Over in the US, bankrupt Californian fast-fashion chain Forever 21, which was once a $4.4 billion company, received a $81 million offer. Meanwhile, import restrictions have led to a sharp increase in Iran’s apparel production.
“At the moment, we’ll have no products to sell and we could miss Fashion Week in Europe,” says Xuzhi Chen, a fashion designer who runs just one of the UK businesses affected by the coronavirus outbreak.
Contagion. The effects of China’s coronavirus outbreak continue to widen, with major retailers like Apple, H&M, Ikea and Walmart closing stores and limiting travel. Meanwhile, trade shows like those by Messe Frankfurt and Chic Shanghai have been indefinitely postponed, while delays in manufacturing are threatening production of fall collections.