In the depths of despair of quarantine measures followed around the world due to Covid – 19 pandemic; fashion industry slump can be seen clearly visible as the industry’s fashion weeks in Paris, Milan and London are repealed.
The board members of Federation de la haute couture et de la Mode publicize on Friday announced that Paris men’s fashion week which was destined to happen from June 23 to June 28, and Haute Couture week, likely to happen from July 5th to 9th July stands cancelled.
According to the group, The Federation is working with its members on possible digital ways”. The Camera Nazionale della Moda Italiana also announced a week postpone of Milan Fashion Week from 19th June to 23rd June 2020 and now it will get merged with City’s women wear in September 2020.
British Fashion Council is also looking for digital ways such that they can prevent reschedule. Due to national lockdown, increase in death rates, setback from Italy, the world is getting affected. The Paris men’s and couture weeks are the upcoming fashion events to be cancelled. No one knows what’s going to happen next. Even adding brands, coming up with new collection is not going to make up for this loss, says Pascal Morand, Executive President of the Federation Francaise de la Couture.
Digital ways of selling the collection is still on but in this crisis nobody is going to pay attention towards the collections and fashion. All the innovative ways of online promotion are going into vain. Brands are draining at a very faster pace. The past fashion events of this year also did not turn up with good revenues. Shanghai Fashion Week, held past week designers live streamed from studios. Digital showrooms such as Nuorder, Joor and Ordre which allow buyers to view the virtual collection, may play a big role.
All the retailers across US and Europe have been forced to shut down their physical stores with no sign of reopening date. Couture is a big hustle at this stage. Luxury goods have come at stake as now the business model is not at all holding good. Since there are no fashion weeks, fashion shows the revenue model has flopped. The high net worth clients who were crazy about luxurious and sassy items have slashed down. People who even spend $100,000 with just a click are behind the walls due to covid-19.
After the better condition which has come out in China, a zoom show can still be done. Asia can be a ray of opportunity in near future but this season has become a total flop and it’s definitely going to take time to heal. Hope this situation comes into control soon, so that everyone can get back to their normal routine.