Forces

Fashion industry evolves, as virus forces a rethink

PARIS (AP) — The pandemic has torn a multibillion-dollar bite out of the fabric of Europe’s fashion industry, stopped runway shows and forced brands to show their designs digitally instead.

Now, amid hopes of a return to near-normality by the year’s end, the industry is asking what fashion will look like as it dusts itself off and struggles to its well-heeled feet again.

Answers vary. Some think the Fashion Week format, in use since the 1940s, will be radically rethought. Others believe Asia will consolidate its huge gains in influence. Many see brands seeking greater sustainability to court a younger clientele.

“The impact of the pandemic will be unquestionably to increase the importance and influence of Asia on fashion,” said Gildas Minvielle, economist at the Institut Francais de la Mode in Paris.

“Luxury in Europe has already rebounded but it’s only because it’s globalized, only because of Asian buyers,” Minvielle

Read More

Italy’s Fashion Industry Leaders Join Forces

MILAN — The Italian fashion industry is banding together to help one another.

On Wednesday, an impressive group of leaders met to discuss the challenges and opportunities facing the industry, and how the larger companies could help smaller and medium-sized ones impacted even more heavily by the pandemic.

More from WWD

The meeting was part of increased efforts by the industry to set out a path to recovery following the devastation wrought by COVID-19 and as the new government of Prime Minister Mario Draghi determines ways to help the country’s economy rebound via the COVID-19 Recovery Fund totaling more than 200 million euros from the European Union.

As reported, during a Zoom conference call from Brunello Cucinelli’s headquarters in Solomeo on Tuesday, the namesake entrepreneur and Carlo Capasa, president of the Italian Camera della Moda, also touted the need to join forces. Capasa said the fashion association next week

Read More