• Must Read: Global Fashion Industry to Contract by up to 30%, Lady Gaga Covers 'InStyle'

    1 month ago - By Fashionista

    These are the stories making headlines in fashion on Wednesday. Global fashion industry to contract by up to 30%, according to new report Business of Fashion and McKinsey & Company have released a new report which examines in detail the effects of the coronavirus pandemic on the global...
    Read more ...

     

  • 'This is an economic crisis': why the pandemic could spell the end for British fashion

    'This is an economic crisis': why the pandemic could spell the end for British fashion

    1 month ago - By The Guardian

    According to experts, without significant government intervention, many young designers and freelancers will be in trouble The future of Britain's fashion industry is in severe doubt due to the global pandemic, with 35% of young and upcoming designers looking as if they will not be able to continue their businesses past the summer. The findings, from the British Fashion Council also predict that half of the entire industry could cease to exist by the end of 2020. “Without some sort of government intervention you could see a whole generation of creative business wiped out,” says chief...
    Read more ...

     

  • Fashion industry forecasted to contract by up to 30 percent

    1 month ago - By Fashion United

    A new report by The Business of Fashion and McKinsey & Company has detailed the effects of COVID-19 on the global fashion industry, and the results are not pretty. The fashion industry is in crisis, and millions of jobs are at stake, along with the potential for many companies to go bankrupt.
    The global fashion industry is projected to contrast by up to 30 percent, and the personal luxury goods industry is set to contract by up to 40 percent this year. 8 out of 10 listed fashion companies in Europe and North
    America are predicted to be in financial distress if lockdowns and store closures...
    Read more ...