As the coronavirus pandemic spreads, so does its influence on the economy. Apart from a few industries deemed as essential, stores are closing down. Countries are going under lockdown, and, to flatten the curve, we all have to change our lifestyles for a while and practice social distancing. The coronavirus impact on the fashion industry has been undeniable, and changes will continue to happen for the foreseeable future. At Albanian Lux, the safety of our clients and employees is paramount, which is why we implemented official safety regulations immediately, and we’re doing everything we can to provide the same high standards you know us for.
Brands are closing down physical branches. Fashion moves online
Although the pandemic isn’t progressing at the same rate all over the world, most countries have implemented strict lockdown rules, and all stores that aren’t essential (grocery stores, pharmacies, delivery services, pet shops) had to shutter their doors. This includes clothing stores. Does this mean that you won’t be able to buy your favorite clothes or fabrics until the quarantine is lifted? Not at all, because clothing stores have moved online, where you can shop safely.
Albluxweb.com remains active so you can shop here as usual, and rest assured that we have taken the necessary precautions for you and our staff. We have also applied extra safety methods so that the virus stays on the fabric for 9 hours max. This way, there’s no danger when receiving the order.
Fashion events are canceled or postponed
Large social gatherings speed up coronavirus transmission, which is why fashion events were the first to get canceled. Giorgio Armani announced that they would be delaying the runway show in Milan for the 2020 fall collection, Chanel postponed their Métiers d’Art show in Beijing, Gucci canceled their cruise 2021 fashion show in San Francisco, and much more.
These were all important events, and the coronavirus impact on fashion will linger for many months, even late into fall 2020.
Fashion houses are switching production to masks and protective equipment to fight the shortage
The pandemic is putting a massive strain on healthcare systems all over the world, and even the most advanced countries are facing a shortage of face masks and protective equipment. This is a risky situation because the doctors and nurses on the front lines remain unprotected. To reduce the shortage, many famous fashion houses are stepping in and reorganizing their supply chain to produce surgical masks and protective equipment. Prada recently announced that they would be producing 100,000 masks by early April, while Yves Saint Laurent announced they will be starting production soon. High-street brands like Zara and H&M have also joined the cause.
Large fashion houses donating to the cause
Despite the colossal coronavirus fashion impact and the unavoidable sales blow, we remain united and are doing everything we can to contribute. The MSCI Europe Textiles, Apparel & Luxury Goods Index reported a 23% drop, and $152 billion in market value were erased from the industry from January 17 to March 11, but luxury brands are still stepping in. LVMH, the largest luxury conglomerate in the world, donated $2.2 million to the Red Cross Society in China, Giorgio Armani gave $1.4 million to Italian hospitals, which were severely affected by the pandemic, and Hermès pledged more than $700,000 to the China Soong Ching Ling Foundation.