{"id":1488,"date":"2020-03-26T17:43:16","date_gmt":"2020-03-26T17:43:16","guid":{"rendered":"http:\/\/etrendingnews.in\/?p=1488"},"modified":"2020-03-26T18:28:30","modified_gmt":"2020-03-26T18:28:30","slug":"corona-virus-fashion-industry","status":"publish","type":"post","link":"https:\/\/etrendingnews.in\/corona-virus-fashion-industry\/","title":{"rendered":"Has Corona’s impact on the fashion industry reached its utmost?"},"content":{"rendered":"\n

Fashion industry is one of the biggest globalised sectors which has been hit by corona virus<\/a> in the latest days. In February , chinese fashion designers,buyers and other industry insiders skipped Milan\u2019s Fashion Week, one of the most prestigious fashion show in the world. As notified by the head of National Chamber of Italian Fashion, Carlo Capsa, Italy faced a downfall of $100 billion plus in fashion industry. This year\u2019s Met Gala 2020 which has to be held on 4 may has been postponed but no later date has been given. Fast-Fashion retailer \u2018PRIMARK\u2019 has closed its UK stores, following closures everywhere in the world and cancelled all future orders.<\/p>\n\n\n\n

In the repulsive information ,there\u2019s also\na glimpse of great news  . Textile\nfactories in China have begun to reopen. Prada, that is one of the biggest\nfashion brands which focuses on making elegant blazers and blouses is now\nmaking 110000 masks by 6 april. Zara pledged to produce  surgical masking. The famous and one of the\nmost cherished brands of the young youth, H&M will be producing protective\nequipment for hospital and healthcare workers. <\/p>\n\n\n\n

\"fashion-industry\"
source: textiletoday<\/a><\/figcaption><\/figure>\n\n\n\n

Other than the impacts of corona virus on\nfashion world, there is some latest general fashion  related data. LVMH ( Louis Vuitton Moet\nHennessy) buys Tiffany in $16 billion deal. It is said that the notable\nsettlement with the Italian revenue agency that was relating to Gucci and swiss\nsubsidiary international SA feels the requirement of French group to pay 897\nmillion euros in the form of additional taxes , along with penalties as well\ninterest of 1.25 billion euros.<\/p>\n\n\n\n

The fashion world has\nalso fallen down due to current circumstances like other businesses but it also\nrises like no other! <\/p>\n\n\n