There Has Been ‘10 Years Of Innovation In 10 Months,’ Retail Body Says

The pandemic has created rapid innovation in retail as shoppers switched to e-commerce and used curbside pickup, according to a U.S. fashion trade body. Steve Lamar, president and CEO of the American Apparel and Footwear Association (AAFA), told CNBC that an “incredible” amount had been achieved by its members over the past several months. The AAFA has 500 members including Calvin Klein, Levi Strauss, and Ralph Lauren. “We’ve implemented 10 years of innovation in the last 10 months … One of the things that we’ve seen coming out of this is … an incredible amount of innovation that’s really been put in place and again plans that people have been looking at over the next 10 years, all that’s implemented and we’ve really seen a great deal of innovation on every angle: retail, supply chain, sourcing, technology, you name it,” Lamar told “Squawk Box Asia” on Tuesday. Read more at CNBC.