Recent Downfall of Fashion Industry Calls for Fashion Council’s Help

0
119 views

Share on LinkedIn

The fashion industry has become the punching bag by the spread of coronavirus as it has struck on the supply chain. The sector relies heavily on international supply chains, logistics, and manual labor. Though gradually, life is getting back on track, and people are resuming to work in China. Still, countries that are at the core of the supply chain, including Italy, India, and Bangladesh, remain in lockdown, with factories shut down in some cases at least until mid-April.

Why it was Important to Call Fashion Councils for Help?

Since the fashion industry falls under the category of non-existential businesses, many of the luxury stores and fashion-fashion chains are closed in Italy, the UK, France, and parts of the US. Around 20 percent of the global population is currently locked-down with cities like New York, London, Milan, and Paris are at different stages of the emergency. But as the pandemic epicenter moved West, fashion organizations, including the Fédération de la Haute Couture et de la Mode, the British Fashion Council, Camera Nazionale della Moda, and the Council of Fashion Designers of America, face an unprecedented situation. Their members, the designers that make up the fabric of their fashion industries, require support.

The CFDA has also urged the US government to include the industry in the $2 trillion economic bills that were recently approved in the Senate. The organization also requested the government to assists its members in the production of personal protective equipment products, such as masks.

How Fashion Council is helping the fashion industry to Resume working?

• Support Small and Medium Size Entrepreneurs

The COVID-19 emergency has increased the number of services and the support that fashion industry members need from official organizations that represent them. In Italy, where all non-essential activities, including clothing manufacturing, have been halted from 21 March to 3 April. The Camera Nazionale della Moda has been particularly vocal with the government, presenting a detailed list of requests to Italian Prime Minister Giuseppe Conte. The list includes direct financial aid to SMEs and artisans, temporary reduction of working hours, and the foundation of a layoff fund.
The CFDA and Vogue joined forces to launch A Common Thread, an initiative to repurpose the $700,000 originally meant to help emerging American design talents through the CFDA/Vogue Fashion Fund.

• Embrace Digital Advancement

With the canceling of major fashion events, such as the launching of menswear Spring/Summer 2021, Paris Fashion Week, and Haute Couture Week, the future of the fashion industry seems bleak. Italy’s business lobby Confcommercio estimates that consumption of clothing, including shoes, will decrease by 11.3 percent in 2020 and will record a total loss of €6.7 billion. The experts and analysts believe that now is the time when the sector can embrace advanced digital technologies with open arms. The BFC is looking to embrace digital and technological innovation for its June menswear showcase, including live-streaming, pre-recorded content, podcasts, and the opportunity for buyers to place orders online.

Conclusion-

In a nutshell, Yes, the sector is facing different struggles at all levels, but all four councils are already to support SMEs and young designers that are facing greater financial risks. The uncertainty surrounding the pandemic’s long-lasting consequences makes clear the importance of receiving guidance and support from an overreaching body able to negotiate with governments and sharing resources with peers. iDesigniBuy is a leading fashion tech company that offers customization solutions that would aid the companies to survive through rough days.

Collaborate with us now.

LEAVE A REPLY

Please enter your comment!
Please enter your name here