How The Coronavirus’ Effect On The Fashion Industry Reveals Flaws In The Global Economy

After the coronavirus outbreak forced Chinese fashion designers, buyers and other industry insiders to skip Milan’s Fashion Week in late February, the Camera Nazionale della Moda Italiana, or National Chamber of Italian Fashion, launched a campaign to demonstrate solidarity: “China, we are with you.” The slogan turned out to be prophetic. By the end of fashion week, Italy was facing a coronavirus outbreak of its own, and Milan’s typically bustling streets were eerily empty. Models posted Instagram selfies in masks, fashion magazines asked their employees to work from home, and Giorgio Armani held his women’s fall/winter 2020/2021 fashion show in an empty theater. The coronavirus outbreak is likely to be a nightmare for Italy’s $100 billion-plus fashion industry, says Carlo Capasa, the head of the National Chamber of Italian Fashion. The country’s fashion companies were expecting a strong start to 2020, but are now struggling to cope with supply chain issues and weak demand, especially in China, the heart of the coronavirus outbreak. “For sure, we think the first six months of 2020 are going to be bad,” Capasa says. Read more at Time.