The impact of the coronavirus crisis on the Fashion industry

As McKinsey @Achim Berg (Senior Partner and Leader of McKinsey’s global Apparel, Fashion & Luxury Group) wrote, “COVID-19 is first and foremost a human crisis. But also our livelihoods are challenged. Without any doubt, the fashion and luxury industry is heavily impacted”.

After two MBA years at Stanford dedicated to deepening my knowledge on the industry, these past days I have been reflecting on and reading about the impact that COVID-19 has had and will have on the fashion industry. The scale of it is yet to unfold. However, it is obvious this sector will be one of the most affected, and the aftermath of this crisis will hurt every angle. Not everything is or will be negative — some see this crisis as the opportunity to rethink for good the fashion industry.

In an effort to digest all the information, I’ll be sharing every other day a short summary and/or an article that I’ve found interesting across eight dimensions: financial hit, branding strategy, supply chain disruption, sustainability, corporate social responsibility, new business models and technologies, entrepreneurship and consumer behavior/trends.

#fashion #apparel #luxury #retail