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The Business of Fashion on Instagram

The Business of Fashion on Instagram

An essential daily resource for fashion creatives, executives and entrepreneurs all over the world.

If macroeconomic headwinds weren t already nudging businesses to reassess their position on a whole host of priorities, the coronavirus pandemic is now forcing companies across many sectors to make urgent, existential decisions. The global #fashion industry is no different, with almost all companies battling lacklustre consumer confidence, foregone revenues and stores on lockdown. 
 
Fashion companies   particularly those relying on longer lead times and inflexible supply chains   are uniquely vulnerable due to the category s discretionary nature. Indeed, fashion may face a harder time than discretionary goods overall: more than 70 percent of European and US consumers expect to cut back spending on #apparel compared to a 40 to 50 percent drop in global discretionary spending. A two-to-three-month lockdown will cause financial distress for 80 percent of European and North American fashion businesses, as volatility reduces investor confidence in a stock market facing its hardest hit since the global financial crisis of 2008. 
 
Economic recovery will be slow, forcing fashion players to ramp up resilience planning and adapt their operating models in order to survive. Learn more from BoF and @mckinseyco's The State of Fashion 2020 Coronavirus Update. Download your free copy of the report now. [Link in bio]
If macroeconomic headwinds weren t already nudging businesses to reassess their position on a whole host of priorities, the coronavirus pandemic is now forcing companies across many sectors to make urgent, existential decisions. The global #fashion industry is no different, with almost all companies battling lacklustre consumer confidence, foregone revenues and stores on lockdown. Fashion companies particularly those relying on longer lead times and inflexible supply chains are uniquely vulnerable due to the category s discretionary nature. Indeed, fashion may face a harder time than discretionary goods overall: more than 70 percent of European and US consumers expect to cut back spending on #apparel compared to a 40 to 50 percent drop in global discretionary spending. A two-to-three-month lockdown will cause financial distress for 80 percent of European and North American fashion businesses, as volatility reduces investor confidence in a stock market facing its hardest hit since the global financial crisis of 2008. Economic recovery will be slow, forcing fashion players to ramp up resilience planning and adapt their operating models in order to survive. Learn more from BoF and @mckinseyco's The State of Fashion 2020 Coronavirus Update. Download your free copy of the report now. [Link in bio]

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