Is fashion over?! Not again, sigh. It has been living up to its ominous premise as monitoring fashion business headlines feel more like browsing the obituaries section.
Heritage brands: Brooks Brothers celebrated its 200th anniversary in 2018 and filed for bankruptcy this month. Designer labels: Diane von Furstenberg cut 75% of her staff and closed all boutiques except the flagship store.
Coronavirus lockdowns and global supply-demand chain disruptions deeply affected the fashion industry across all segments.
Mass-market retailers: New York & Co. is shutting down its network after the parent company went bust. It seems that nearly every aspect of the fashion market today requires urgent reinvention. Prior successful operational models are no longer applicable. This presents a challenge and an opportunity for those willing to experiment and take risks.
In the spirit of hope and progress, Paris Haute Couture Week took place entirely online for the first time ever. Zoom is buzzing with daily panels discussing possibilities in education, media, and retail.