Coronavirus Pandemic has been into our lives for 2-3 months now. We are all aware that it’s consequences on economy, finances, oil and lots of other areas are inevitable.
But today we are going to talk about the coronavirus consequences on Fashion and the biggest luxury brands.
Chinese tourists usually fill all the stores in Paris like Hermes or Christian Dior.
But, the global pandemic is putting at risk sales of the biggest luxury brands in both
Europe and China.
Chinese customers have become important to brands like Louis Vuitton, Chanel and Prada. Experts estimate that they make more than 1/3 of their sales. At this point no one knows how long this global pandemic will last. We are not even sure what the outcome will be. But we do know that the consequences for lots of businesses will be terrible.
Many European airlines such as Air France, Alitalia or British Airlines have temporarily suspended all flights with China. Although this was something to be expected,
the Chinese people of course also decided to cancel their travels towards European countries.
Moreover, the situation of flights canceled by companies and by people have had serious consequences for many stores since they have recorded severe loss of profit. In addition to these events, all Fashion-week shows this time will be empty. On fashion catwalks,
very few Chinese spectators are expected to appear, also very few influencers, celebrities and buyers.
Even the editor-in-chief of Vogue for China, Angelica Cheung, will not be present.
So, given the current situation of the Coronavirus Pandemic, we can definitely say that unfortunately, the following months are going to be hard for everyone.