A global area of concern, the COVID-19 outbreak has quickly become an international topic of discussion. While the impact of sudden outbreak of the virus on industry such as entertainment, travel, and technology are widely known, lifestyle industries such as fashion is not remained untouched.
Fashion events that were scheduled to take place in or close to China were cancelled. This included Chanel’s Beijing cruise show, Kingpins Hong Kong, and the entirety of Shanghai Fashion Week, which was scheduled to begin on March 26.
A large number of major global brands such as Nike and Uniqlo closed store operations across China amid the COVID-19 outbreak. This has made a significant impact on the sales of apparel industry players. Ralph Lauren reported a decrease in sales of around $55-$70 million while Capri Holdings experienced a revenue loss of around $100 million.
18 March: Inditex recorded inventory charge of $316 million on the back of the coronavirus outbreak.
17 March: Retailers including VF Corp., Nike Inc., and Gap Inc., closed their stores temporarily and cut their opening hours to limit the spread of virus.
16 March: Various US trade bodies have joined forces in urging the government of the US for scrapping tariffs on Chinese goods.
13 March: Gap Inc., expects to take a 1st quarter sale hit of around $100 million due to outbreak.
11 March: Adidas expected its sales to drop by $1.13 billion in Greater China in the 1st quarter.
5 March: Sri Lanka fell in apparel order volumes as the outbreak caused uncertainty among retailers and consumers.
4 March: garment factory in Ayeyarwady, Myanmar has been closed due to lack of raw materials.
3 March: Cambodian officials warned that the production will slow at 200 garment factories because of the shortage of raw materials.
24 February: Milan trade show Filo cancelled due to coronavirus outbreak.
20 February: The sales of Adidas has slumped 85% since the coronavirus outbreak.
14 February: Ralph Lauren expects a sale loss of $70 million.
13 February: PVH Corp. temporarily closed majority of its Calvin Klein and Tommy Hilfiger stores in China.
11 February: Denim trade show Kingpins cancelled its Hong Kong show.
7 February: 60% of the VF Corp. China stores have been closed.
6 February: Capri Holdings sounded a warning on its full-year results and expects to have a loss of around $100 million in sales.
31st January: Denim giant Levi Strauss and Co shuttered half of its stores in China.
