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How COVID-19 Will Impact the Fashion Industry

Posted on May 13 2020

 

Article by: Amos Chin

 

 

The world has been upended with a global pandemic that has ravaged across landscapes. In dark times like these, there appears to be little hope for the future of fashion. Fashion is one of the businesses most vulnerable to disruption, since it depends heavily on discretionary spending. While there seems to be no panacea for this crisis, fashion can also be a source of positive inspiration. Pre-COVID-19, the fashion industry has often been regarded as being cavalier and wasteful. 

 

The silver lining behind this worldwide crisis is that it has given the industry an opportunity to reinvent current business models and endeavour towards a more sustainable future. COVID-19 is forcing brands out of their comfort zones to experiment with interactive technologies and digitalisation. As we sought to maintain social distancing, new technologies for recycling and minimising waste can be created.

 

Few fashion brands have been able to transcend to the extra-terrestrial level of creating a niche of their own. Vacant Label, featuring emerging designers in Korea, is one of them. A crisis will give brands like Vacant Label an opportunity to harness technology to bring greater exposure to these emerging designers, stimulate digital content and provide a virtual shopping experience for consumers. This is a chance to re-establish the fashion business — through rethinking and revolutionising the future of fashion.

  • #businessoffashion
  • #covid19
  • #fashion
  • #pandemic
  • #reinvention
  • #sustainability

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