As the coronavirus pandemic spreads, so does its impact.
The virus is increasingly having a negative impact on the fashion industry specifically, having escalated in the midst of the fall 2020 fashion month season, causing brands and design houses to shutter their doors and postpone upcoming runway shows. Major events, including the Met Gala and the CFDA Awards, have also been postponed indefinitely. Department stores across the globe, including Nordstrom, Neiman Marcus, Macy’s, Selfridges and Saks Fifth Avenue, have closed their doors.
As the virus continues to spread, a number of high-profile figures have tested positive for COVID-19, including actors Tom Hanks, Rita Wilson and Idris Elba, Something Navy founder and influencer Arielle Charnas, Prince Charles and U.K. Prime Minister Boris Johnson.
Footwear legend, Sergio Rossi, passed away from the virus in Italy on April 3. He was 84.
Here, WWD breaks down the ways that the pandemic has impacted the fashion industry.
Brands and Retailers :
Major retailers and brands are experiencing severe repercussions because of the COVID-19 pandemic, leading many to shutter their doors and manufacturing facilities, furlough their employees and even file for bankruptcy. Here, a list of some of the major companies impacted by the pandemic.
10 Corso Como:
Carla Sozzani’s 10 Corso Como store in New York is closing due to the pandemic.
“This has not been an easy decision, but as the coronavirus pandemic continues to accelerate and the future is unclear, circumstances are not allowing 10 Corso Como at the Seaport District to flourish at this stage,” Sozzani said.
The Topshop parent company is cutting paychecks by 50 percent for its senior executives. It has also furloughed a substantial number of its employees unable to work due to the store closures.
Chief executive officer Ian Grabiner is forgoing a salary and benefits until further notice.
Ascena, which operates Lane Bryant, Ann Taylor and Loft, among others, is furloughing its employees, including half of its corporate staff. It will also be cutting executive salaries.
Associated British Foods:
The Primark parent company is slashing executive pay for chief executive officer, George Weston, and finance director, John Mason, who requested their pay be reduced temporarily by 50 percent.
Los Angeles fashion brand Bldwn filed for bankruptcy on March 25 after added financial loss due to the COVID-19 pandemic. It’s said the company is going straight into Chapter 7, a liquidation of assets. The brand has let go of its entire staff, including 33 people in corporate roles and 45 people at its seven stores.
Brooks Brothers filed for bankruptcy on July 8. The company listed both its assets and liabilities as ranging between $500 million and $1 billion.
Chairman and chief executive officer, John D. Idol, Michael Kors, Donatella Versace and chief creative officer of Jimmy Choo, Sandra Choi, have agreed to forgo their salaries for the fiscal 2021 year. The company is also looking into reducing overall salaries at various levels by about 20 percent.
Capri is also furloughing 7,000 in-store associates in North America. Its new timeline for the reopening of its stores is closer to June 1.
Centric Brands, the licensee to more than 100 fashion brands including Tommy Hilfiger, Calvin Klein, Under Armour and more, has filed for Chapter 11 bankruptcy.
The design house announced on March 18 it is halting production in its facilities in Italy, France and Switzerland for the next two weeks, however, workers will still be paid.
The Los Angeles-based luxury company has laid off most of its U.S. staff, totaling in 100 employees. The brand has closed all “nonessential” retail stores in North America and Europe and has no online business.
Creative Hairdressers Inc.:
The parent company of Hair Cuttery, Bubbles and Salon Cielo has filed for Chapter 11 bankruptcy in Maryland to reorganize and sell the business. The company operates 750 hair salons.
David Yurman has furloughed the majority of its corporate and retail employees. The news comes after the jewelry brand donated $1 million to 15 different COVID-19 relief causes in New York City.
The British retailer is seeking bankruptcy protection amid the COVID-19 pandemic. The company plans to put its Irish business into liquidation. The retailer has 142 U.K. stores, which are currently closed because of the virus.
Diane von Furstenberg:
Diane von Furstenberg’s London store will not reopen after the COVID-19 pandemic.
The brand’s local subsidiary, DVF Studio U.K., has gone into administration.
El Corte Inglés:
The Spanish department store chain is temporarily laying off 22,000 of its employees for at least 14 days due to the lockdown in Spain because of the COVID-19 pandemic.
Elizabeth Arden Red Door Spas:
Elizabeth Arden Red Door spas, now known as Mynd Spa & Salon Inc., filed for Chapter 7 bankruptcy in New York on March 19 just days after it closed its doors in response to COVID-19.
The Estée Lauder Cos. is reducing salaries for many of its senior executives. Chief executive officer Fabrizio Freda and president William Lauder will both have their base salaries cut by 50 percent, leaving Freda at $1 million and Lauder at $750,000.
The executive leadership will take a pay cut of 30 percent, senior vice president-level employees will take a pay cut of 20 percent and directors to vice presidents will take pay cuts of 10 percent. The pay reductions will occur between May 1 and Oct. 31.
Everlane cut over 200 workers due to COVID-19 pressures, including retail employees and those operating backend functions.
The Italian brand is suspending production on its fall 2020 collection due to the pandemic.
G-III Apparel Group is making several changes in result of the pandemic.
As of March 30, the company’s management has agreed on temporary reductions in annual salaries. Morris Goldfarb, chairman of the board and chief executive officer, and Sammy Aaron, vice chairman of the board and president, agreed to forgo their salaries. Others have agreed on between 10 to 40 percent in reductions to their salaries, based on their salary levels.
The company is also furloughing about 60 percent of its wholesale operations segment employees and will be reducing its retail employees by more than 80 percent, effective April 6.
G-Star filed for Chapter 11 bankruptcy protection on July 3.
Gap Inc., which owns Old Navy, Banana Republic and Gap, is furloughing 80,000 store workers due to the pandemic.
Glossier is furloughing its retail employees in New York City, Los Angeles and London starting June 1. The decision comes after chief executive officer Emily Weiss announced the company would continue compensating its retail employees despite stores being closed due to the pandemic.
Gucci announced on March 12 that it will close its six Italian production sites until March 20 as a precautionary measure.
H&M group’s sales dropped 57 percent in local currencies from March 1 to May 6 due to the majority of its stores being ordered to close in Europe and the U.S.
The parent company of Hanes, Champion, Playtex, L’eggs and Bali has furloughed 5,800 employees and has initiated pay cuts for others.
J.C. Penney Co:
J.C. Penney Co. filed for Chapter 11 bankruptcy protection on May 15. The retailer was experiencing steadily declining sales because of store closures caused by the COVID-19 pandemic. It had also struggled to attract online customer base prior to the pandemic.
Prior to the bankruptcy filing, the company announced on March 31 it is temporarily furloughing the majority of its hourly store associates beginning April 2. It will also reduce its corporate staff and extend the temporary closure of its stores and offices.
J. Crew Group Inc.:
J. Crew Group Inc. has filed for Chapter 11 bankruptcy protection on May 4.
The Dallas-based men’s wear seller filed for Chapter 11 bankruptcy protection on May 5. The company attributed the filing to the effects of the COVID-19 pandemic.
Nordstrom is permanently closing its three Jeffrey specialty stores. It is also parting ways with Jeffrey Kalinsky, founder of the luxury stores and Nordstrom’s designer fashion director.
John Barrett Salon:
John Barrett Salon has filed for bankruptcy protection. The celebrity stylist has been in the industry since the Eighties and is best known for his 23 years running the salon inside Bergdorf Goodman.
John Varvatos filed for Chapter 11 bankruptcy protection on May 6 due to falling sales and online revenue amid the COVID-19 crisis.
Kohl’s Corp. is extending its store closures indefinitely as of March 31. The company is subsequently furloughing its store and store distribution center associates, as well as some corporate employees who have seen a reduction in work due to the store closures.
The company is still offering existing health benefits to these furloughed employees.
The Victoria’s Secret parent company will begin furloughing its in-store associates and any employees not supporting the online business as of April 5 until further notice.
The brand is asking its employees to take a 15 percent pay cut.
Le Tote, the company that purchased Lord & Taylor last year for $75 million, filed for Chapter 11 bankruptcy protection on Aug. 2. The company has $137.9 million in funded debt obligations.
The fashion brand is paying its store associates through the first month of store closures, but it is then furloughing about 4,000 employees.
Chip Bergh, the chief executive officer of parent company Levi Strauss & Co., is cutting his salary by 50 percent for the time being.
Long Tall Sally:
The women’s specialty apparel retailer is shuttering its doors permanently due to COVID-19. The brand estimates it will close its online site by the end of August.
Lucky Brand filed for Chapter 11 bankruptcy protection on July 3.
Macy’s has furloughed the majority of its workers because of the pandemic. The decision comes after the retailer closed all of its stores on March 18, which resulted in the loss of the majority of its sales.
Marc Jacobs has cut roughly 60 staff members across design and other corporate departments, including Olympia Le-Tan, the lead designer of The Marc Jacobs.
The London and Dubai-based e-tailer specializing in modest fashion is ceasing operations due to financial hits its taken amid the COVID-19 pandemic.
The beauty brand has laid off at least 210 employees in California as of April 21. Morphe had said it would close stores in the U.S., Canada and the U.K. from March 16 to March 29 and continue to pay store workers during the period.
The Dallas-based retailer has furloughed or cut salaries for a majority of its workers. Chief executive officer Geoffrey van Raemdonck is forgoing a salary during the furloughs.
It’s also been reported that the retailer is possibly filing for bankruptcy because of its heavy debt load and the impact from the pandemic.
Nordstrom is permanently closing 16 of its full-line department stores this year due to COVID-19 and its long-term impact on retail.
Sources told WWD that the locations that will be closed include those in Naples. Fla.; Flatiron Crossing, Colo.; Short Pump Town Center in Richmond, Va. and West Farms. Conn.
Rag & Bone:
Rag & Bone has laid off at least 70 employees across retail and corporate roles. The company has furloughed essentially the rest of its staff.
Ralph Lauren is temporarily furloughing retail employees and a portion of corporate executives until June 1. The brand’s store employees in North America have been compensated since store closures went into effect mid-March and will continue to be paid through April 11.
The designer himself will forgo his entire salary for the fiscal 2021 year in addition to his fiscal 2020 year bonus. Patrice Louvet, chief executive officer and president, will reduce his salary by 50 percent. The other 140 members of the executive and global leadership team will reduce their salaries by 20 percent for the first quarter of the fiscal 2021 year.
The fashion brand has furloughed all of its 45 employees.
The designer has laid off the brand’s wholesale employees.
Revlon Inc. has furloughed some employees and asked others to work reduced hours for less pay. The company’s leadership team is also reducing their base salaries.
Rituals Cosmetics has closed five stores in California in San Diego, Newport Beach, San Francisco, Santa Clara and Walnut Creek.
RTW Retailwinds, which operates New York & Co. and Fashion to Figure stores, is furloughing all store associates and a majority of its corporate employees. This results in approximately an 80 percent reduction in weekly payroll.
Sabon, the natural soap and body-care company, has filed for bankruptcy due to the impact of COVID-19.
Sephora has laid off some of its part-time and seasonal employees. The news comes after the beauty retailer closed its doors on March 17 because of the virus.
Terminated employees will receive severance and “resources to support their transition,” according to the company.
The company still employs 9,000 U.S. store workers, who are being paid and receiving health benefits through late May. In Canada, stores remain closed and workers are being paid 80 percent of their base salary, plus health benefits.
Signet Jewelers, the parent company of Kay Jewelers, Zales, Jared, H. Samuel, Ernest Jones, Peoples Jewellers, Piercing Pagoda and jamesallen.com, is closing roughly 400 stores.
Additionally, for the three months ending May 2, the company’s revenue fell by more than 40 percent to $852 million, down from $1.4 billion from the year prior.
Simon Property Group:
Simon Property Group, the country’s largest shopping center developer, furloughed about one-third of its workers. Chief executive officer David Simon has decided to forgo his salary for as long as the pandemic lasts.
Stage Stores, which is behind off-price department store Gordmans, has filed for Chapter 11 bankruptcy protection.
Tailored Brands, the parent company of Men’s Wearhouse, Jos. A. Bank, Moores and K&G, filed for Chapter 11 bankruptcy protection on Aug. 2.
The parent company of Coach, Stuart Weitzman and Kate Spade is reducing its workforce by roughly 2,100 part-time sales associates across its brands. The company also announced that if store closures extend into June, it will have to furlough the majority of its assistant store managers and in-store associates.
TJX Cos. Inc.
The company is furloughing the majority of its hourly in-store and distribution center associates in North America as of April 12. The senior leadership team and board of directors will also take temporary pay cuts.
Lingerie start-up ThirdLove has closed its New York City store because of the COVID-19 pandemic.
The brand’s’ cofounder and co-chief executive officer, Heidi Zaki, revealed the news in a statement, saying: “We are operating in uncharted territory with retail stores across the country closing, and at a time when virtually everything we hold as ‘normal’ is being challenged. It is with a heavy heart, we have decided to close our NYC pop-up. We had an amazing retail team that was hitting their stride, but our pop-up lease was up shortly so we decided to permanently close our only physical location. Our affected teammates were offered severance and extended benefits. As a small business, we are absolutely feeling the impact of COVID-19.”
True Religion has filed for Chapter 11 bankruptcy on April 13. The apparel company filed documents at a Delaware bankruptcy court where it asked the court to allow it to defer rent payments for roughly two months.
Ulta Beauty is furloughing its store and salon associates as the retailer remains closed during the pandemic. The furloughs go into effect on April 19. The retailer intends to bring back its workforce when “it is safe to do so,” and affected employees can apply for unemployment benefits.
Chief executive officer Mary Dillon is also forgoing her base salary indefinitely and the company is making a $500,000 donation to the Ulta Beauty Associate Relief Fund.
Urban Outfitters is furloughing its employees due to the virus beginning April 1 for a period of 60 days. The employees, which include in-store, wholesale and office associates, are still eligible for company benefits. The retailer also closed its doors globally on March 14 because of the pandemic.
Patek Philippe, Rolex and Hublot are temporarily suspending production to help contain the virus.
COVID-19 has led to the postponement or cancellation of a number of fashion weeks, including the following:
Australia Fashion Week:
Australia Fashion Week’s 25th anniversary edition has been canceled. The event was scheduled to run from May 11 to 15 at Sydney’s Carriageworks venue.
Bridal Fashion Week:
Bridal Fashion Week in New York will be going virtual.
A statement released by the Bridal Council and the Council of Fashion Designers of America on March 12 stated the organizations “have been in touch with our designers, retailers and media members. Based on their collective input, it has been decided that April bridal market will be held ‘digitally.'”
Bridal Week was originally slated to run from April 16 to 20. The Bridal Council is now asking designers to present their collections via Zoom and Join.me platforms.
Copenhagen Fashion Week:
Copenhagen Fashion Week is going forward with its spring 2021 showcase from August 9 to 12. The decision was based on Denmark relaxing its lockdown due to the COVID-19 pandemic.
Gucci is changing up its fashion week model in wake of COVID-19. The designer house will be postponing its spring 2021 show in September and decreasing its number of yearly shows from five to two. Gucci’s forthcoming collections will also be season-less.
Helsinki Fashion Week:
Helsinki Fashion Week’s upcoming July edition will go virtual. The event was already planning to go eco-friendly, pairing sustainable fashion designers with 3-D designers to create their collections.
Milan Fashion Week Fall 2020:
Chinese fashion brands Angel Chen and Ricostru canceled their fashion shows in Milan in the wake of the outbreak.
Ricostru designer, Rico Manchit Au, stated she canceled her show because half of her staff wouldn’t be able to get back to work due to China’s travel restrictions and city lockdowns.
The outbreak has also affected fashion week attendees, including editors from the Chinese editions of Vogue, Elle, Harper’s Bazaar, Marie Claire, InStyle, T Magazine, WSJ Magazine, Wallpaper* and Nylon, who partly or fully halted their fashion week plans.
Milan Men’s Fashion Week Spring 2021:
Italy’s Camera Nazionale della Moda announced on March 27 that its Milan Men’s Fashion Week for the spring 2021 season will be shown during fashion week in September along with the women’s collections.
Milan’s Men’s Fashion Week was originally scheduled to run from June 19 to 23 and will now be presented during Milan Fashion Week from Sept. 22 to 28. The decision was made in light of the COVID-19 pandemic.
New York Fashion Week Resort 2021 and Men’s Fashion Week:
The CFDA announced on March 27 that New York Fashion Week Resort 2021 is canceled and that Men’s Fashion Week in June will be postponed.
Paris Men’s Fashion Week and Couture Week:
The Fédération de la Haute Couture et de la Mode, French fashion’s governing body, announced on March 27 it is canceling Paris Men’s Fashion Week and Couture Week due to the virus. Men’s Week was scheduled to run from June 23 to 28 and Couture Week was scheduled for July 5 to 9.
Paris Fashion Week Fall 2020:
Chinese fashion brands Masha Ma, Shiatzy Chen, Uma Wang, Jarel Zhang, Calvin Luo and Maison Mai all canceled their Paris Fashion Week events due to the virus.
The news was revealed by La Fédération de la Haute Couture, which stated it will “make available all its communications platforms to allow these brands to share the work they had planned to present both in France and overseas.”
Other brands that canceled or postponed their fall 2020 collections include Agnès B., A.P.C. and Rosie Assoulin.
Resort 2021 Collection:
A majority of design houses have canceled their international resort 2021 runway shows due to the COVID-19 pandemic, including Giorgio Armani, Chanel, Dior, Gucci, Hermès, Max Mara, Prada and Versace.
Sao Paolo Fashion Week:
Sao Paolo Fashion Week has canceled its spring 2020 edition. The event was scheduled to run from April 24 to 28.
Shanghai and Beijing Fashion Weeks:
Both Shanghai and Beijing Fashion Weeks have been postponed because of the outbreak. Shanghai Fashion Week was slated to begin on March 26 while Beijing’s China Fashion Week was slated to run from March 25 to March 31.
Shanghai Fashion Week is now partnering with Alibaba’s Tmall to create an online platform for the designers and brands to debut their fall 2020 collections from March 24 to March 30. Some 150 brands will participate in the virtual fashion week, including Diane von Furstenberg, Pinko, Miss Sixty, Converse, Anta, Icicle, Lily and Le Fame.
Tokyo Fashion Week:
It was revealed on March 2 that Tokyo Fashion Week has been canceled. The event would have run from March 16 to March 21.
Trade Shows and Other Events:
The outbreak has also caused the cancellation or postponement of a number of international trade shows, including the following:
Altaroma, the Italian event dedicated to haute couture collection, scheduled for July has been postponed due to the Coronavirus crisis. New dates are Sept. 15-17.
Baselworld organizers announced on May 7 they are canceling the 2021 show and have settled with the fair’s departing labels, including Movado, Swatch Group, Rolex, Patek Philippe, Chanel and Chopard.
The Swiss watch show has previously announced it would be rescheduling its upcoming April show for January 2021.
Cartier canceled its accessories presentation, Cartier Creations, that was scheduled for March 3.
“In light of the concerns associated with international travel at this time, your safety and well-being — and that of our team — are top priority.” The Richemont-owned label added that it planned to show the accessories “in the days ahead,” without specifying the format.
Copenhagen Fashion Summit:
The Copenhagen Fashion Summit scheduled for this May has been postponed due to the outbreak. The annual sustainability event is now postponed until October.
Cosmoprof North America:
Cosmoprof North America is postponing its Las Vegas trade show, now scheduled for Sept. 20 to 22. The trade show was originally scheduled to take place from June 28 to 30.
Cosmoprof Worldwide Bologna:
Cosmoprof Worldwide Bologna is now going digital. Organizers had first postponed the trade show — originally scheduled for March 12 to 16 — to June 11 to 15, and then again to Sept. 3 to 7.
Coterie has canceled its September trade show in New York. The show includes Fame, Moda, Sole Commerce and the previously rescheduled Project and Children’s Club.
Milan’s artistic perfumery show Esxence also postponed the dates of its upcoming trade show. The show was originally slated to run from April 16 to April 19 and will now be held Feb. 11 to 14, 2021 at the MiCo-Milano Convention Centre venue.
Natural Products Expo West is postponing its annual trade show scheduled for March 3 to March 7 in Anaheim, Calif. Production and setup was already under way this week before the postponement announcement. A new date has not yet been revealed.
Fashion Trust Arabia Awards:
Fashion Trust Arabia has canceled its awards gala on March 5 in Qatar due to the virus. However, co-chairs Sheikha Al-Mayassa and Tania Fares are planning an “intimate showcase” in Paris to feature the 25 finalists whose designs will be reviewed by the judges. Dates for the awards and showcase will be revealed at a later time.
The Fragrance Foundation Awards:
The Fragrance Foundation Awards is going digital. Finalists will be announced via webinar on June 4 and the awards ceremony is postponed to September and will be a livestream event.
Geneva Watch Days:
The high-end watch label event is being rescheduled for August 26 to 29 after it was initially planned to run in April. The event was planned in the wake of the cancellations of Baselworld and Watches & Wonders Geneva.
Global Retailing Ideas Summit:
The summit, which is staged by the Terry J. Lundgren Center for Retailing at the University of Arizona, has been postponed due to the coronavirus from April 2 to 3 at the JW Marriott Tucson Starr Pass Resort. The new dates are Oct. 8 and 9.
Hermès is canceling its annual Saut Hermès show jumping competition slated for March 20 to 22 at the Grand Palais in Paris.
The Hyères International Festival of Fashion and Photography has been postponed until October. The event was slated for April 23 to 27.
The lingerie and swimwear trade show in Paris scheduled from June 28 to 30 has been canceled.
Italy’s International Talent Support design contest — also known as ITS — is forgoing a physical showcase in 2020, embracing instead a virtual format to be held on Oct. 23. The 2020 edition of the annual talent search, originally slated for July 17, had already been postponed until October.
Denim trade show Kingpins has canceled its upcoming Hong Kong show scheduled for May 13 to May 14.
Luxe Pack Shanghai:
High-end packaging trade show, Luxe Pack Shanghai, also revealed it is postponing its upcoming trade show at the Shanghai Exhibition Center. The dates are changing from April 8 and 9 to July 7 and 8.
LVMH Cocktail for Designer Prize Semifinalists:
LVMH has canceled its cocktail event celebrating the 20 semifinalists for its Prize for Young Designers, which would have been held in Paris on Feb. 27. Although the luxury conglomerate did not specify on the reasoning behind the cancellation, it is likely linked to the virus’ outbreak.
Magic’s August edition in Las Vegas will be postponed, now taking place from Sept. 30 to Oct. 2. The show includes Project, WWDMagic and MICAM Americas.
The Makeup Show Houston:
The Makeup Show has postponed its upcoming March event in Houston, now holding its trade show event on Aug. 1 and 2.
The makeup artist event also has an event scheduled for New York in May, but has not yet announced if the show will continue as planned.
Melbourne Fashion Festival:
The Virgin Melbourne Fashion Festival, which began on March 4, has canceled the remainder of its programming. The cancellation is in response to Australian government banning all non-essential public events attended by over 500 people.
The Italian textile trade show has been postponed from July 7 to 9 to Sept. 7 to 9.
Tyra Banks’ model-themed experience is no longer opening in May. A new opening date has not yet been announced.
Eyewear trade show Mido is postponed further to now run on Feb. 6 to 8, 2021 in Milan.
This follows an original postponement in February, when it was announced the trade show would take place at the end of May to early June instead of Feb. 29 to March 2.
Movado Swiss Watch Conference:
Movado has canceled its Swiss watch conference in Davos, which was planned for March 14 to March 18. This was meant to be Movado’s third annual stand-alone conference, which the company launched in 2018 as an alternative to Baselworld.
The National Magazine Awards:
The National Magazine Awards — also known as the Ellie Awards — have been postponed. The awards ceremony was scheduled for March 12 at the Brooklyn Steel music venue in Brooklyn. Organizers stated they will host the ceremony later this spring.
New York City Trade Shows:
Project NY, Liberty Fairs’ NYC Men’s and MAN NYC are postponed until September. The August women’s and children’s shows — Intermezzo, Fame, Moda, Accessorie Circuit, Accessories the Show and Children’s Club — which were slated to be held at the Javits Center from Aug. 2 to 4, have all been canceled. Exhibiting brands will be accommodated in the Coterie, Moda and Fame shows in September.
PGA Fashion and Demo Experience:
The trade show, originally scheduled for Aug. 18 and 19 at the Venetian Resort in Las Vegas, is canceled. It will instead “facilitate business connections through a series of digital programs.”
The 98th edition of the men’s trade show in Florence has been postponed to run from Sept. 2 to 4. The trade show was originally scheduled for June 16 to 19.
PopSugar’s Play/Ground Festival:
PopSugar has canceled its upcoming Play/Ground festival in New York in June. Around 15,000 guests were expected to attend. A new date will revealed soon.
Prada’s “Rubber Pencil Devil” Exhibition in Shanghai:
Prada postponed the “Rubber Pencil Devil” exhibition by artist Alex Da Corte originally slated to run from March 10 to May 24 at the Prada Rong Zhai location in Shanghai. Supported by Fondazione Prada, the exhibition will now be held from Nov. 13 to Jan. 24, 2021.
Salone del Mobile:
Milan’s furniture and interior design trade show has been canceled. The show was scheduled to run from April 21 to 25.
Shoptalk’s annual retail and e-commerce event in Las Vegas has been canceled. The conference was scheduled for later this month and has been rescheduled for mid-September.
The Italian bridal trade show is forgoing its physical event this year. The show, originally scheduled for April 17 to 20, was first moved to June and then to September 24 to 27. The next edition will take place April 9 to 12, 2021
The resortwear trade show in Paris has been canceled. The event was scheduled to run from June 27 to 29.
Sustainable Future for Fashion:
The British Department for International Trade is postponing its Sustainable Future for Fashion showcase event, which was slated for Feb. 28 in Paris. The event would have been hosted by Her Majesty’s Trade Commissioner for Europe, Andrew Mitchell, at the British Ambassador’s Paris residence.
The showcase would have included brands such as Alighieri, Bav Tailor, Belize Bottletop, Edward Crutchley, Haeckels, Hanna Fiedler, Patrick McDowell, Phoebe English, Räthel & Wolf, Stay Wild, Story MFG and Teatum Jones.
The swimwear trade show scheduled for July 11 to 14 at the Miami Beach Convention Center has been canceled.
Time will no longer be hosting a celebration for its 100 Women of the Year project held on International Women’s Day on March 8. The project recognizes some of the most influential women of each year from 1920 to 2019.
The event was supposed to include a screening of a short documentary and a panel of speakers including Katie Couric, Time editor in chief Nancy Gibbs and filmmaker Alma Har’el.
The magazine then announced on March 18 it is postponing its Time 100 List event, which was scheduled to run from April 21 to 22. It is now being postponed to September.
Paris fashion trade show, Tranoï, scheduled for June 26 to 28 has been canceled.
Triennale Milano Exhibit:
An art exhibit curated by Argentinian artist Guillermo Kuitca and sponsored by the Foundation Cartier at the Triennale Milano has been postponed. It was initially slated to open on April 9.
The Paris lingerie and swimwear trade show scheduled for June 27 to 29 has been canceled.
Valmont Barcelona Bridal Fashion Week:
The bridal trade show is further postponing its 2020 edition, now slated for Sept. 4 to 10. The show was originally scheduled for June 8 to 14. The new event will be a combination of a physical event with several digital initiatives.
Vision Expo East:
Eyewear trade show, Vision Expo East, scheduled for March 26 to 29 in New York City has been canceled.
The trade show will instead be consolidated with its sister event, Vision Expo West, which is scheduled for Sept. 23 to 26 in Las Vegas.
Viva Technology Conference:
Paris-based technology conference, Viva Technology, has been canceled. The conference was scheduled to run from June 11 to 13 and will now take place in spring 2021.
Watches & Wonder:
Geneva watch fair, Watches & Wonder, has announced it’s canceling its April show in the wake of the outbreak. The fair would have been held from April 25 to April 29 and would have included brands like Cartier, Vacheron Constantin, Ulysse Nardin, Girard Perregaux and Hermès.
WSM Fashion Reboot:
White Milano’s organizing body announced it is rescheduling its WSM Fashion Reboot event dedicated to sustainability to be held in conjunction with the White Milano trade show from Sept. 24 to 27. The trade show was originally scheduled for June 20 to 24.
A Dip in Sales:
Many fashion and beauty companies are facing financial repercussions due to the virus’ effect on production and consumption, with the following companies seeing decreases in sales:
Abercrombie & Fitch Co.:
Abercrombie & Fitch Co. saw net losses widen to $244.2 million in the first quarter ending May 2, compared to $19.2 million in the prior year. Net sales fell 34 percent to $485.4 million in the last quarter from $734 million in the year prior.
The Italian luxury company reported a 2.3 percent drop in preliminary revenues in the first quarter. Revenues decreased to 156.7 million euros compared to 160.4 million euros in the same period last year.
The company, which owns Michael Kors, Versace and Jimmy Choo, has closed 150 stores in China and projects its revenues in the next quarter will drop by $100 million.
Chico’s FAS, the parent company of Chico’s, White House Black Market, Soma and TellTale brands, saw revenues during the three-month period ending May 2 fall to $280 million, down from $517 million during the same time last year.
Coty Inc. is expecting a 20 percent decrease in sales for the third fiscal quarter due to COVID-19. The company issued a plan on March 20 on how it would operate amid the spread of the virus, stating it will begin manufacturing and supplying hand sanitizer to medical and emergency services, push its products onto Amazon and expand its Kylie Cosmetics brand in Europe in the coming weeks.
The Estée Lauder Cos.:
The Estée Lauder Cos. experienced an 11 percent year-over-year sales decline in its third fiscal quarter ending March 31. The company generated $3.35 billion in net sales with a loss of $6 million.
Guess Inc. saw revenues during the three-month period ending May 2 fall to $260 million, down from $536 million during the same time last year.
The fast fashion retailer reported a 46 percent decline in sales during March and stated that second quarter profit will also see a decline. The retailer has closed 3,788 of its 5,065 stores in the U.S. and Europe since March 31 because of the pandemic.
Kohl’s Corp recorded net losses of $541 million in the three months ending May 2. Sales dropped 40.6 percent to $2.4 billion.
L Brands, the parent company of Victoria’s Secret and Bath & Body Works, saw net revenues for the three months ending May 2 decrease to $1.65 billion, down from $2.6 billion the previous year.
Victoria’s Secret’s total sales were $821 million, a 46 percent decline from the $1.5 billion earned last year.
Net sales for the retailer for the quarter ending May 2 fell more than 45 percent to roughly $3 billion from $5.5 billion the prior year.
PVH Corp., the parent company of Tommy Hilfiger and Calvin Klein, posted a net loss of $1.1 billion during the first quarter this year.
Ralph Lauren Corp.:
Ralph Lauren saw net losses totaling $249 million in the fiscal fourth quarter ending March 26. Revenues fell by 15 percent to $1.27 billion from $1.51 billion.
Revlon Inc. saw sales fall 18.1 percent to $453 million, with an estimated COVID-19 hit of $54 million. Net losses widened from $75.1 million to $213.9 million.
Salvatore Ferragamo SpA reported a 30.6 percent drop in preliminary revenues in the first quarter. Sales dropped 220 million euros compared to 347 million euros earned in the same period last year.
The conglomerate — which owns Coach, Kate Spade and Stuart Weitzman — reported a loss in revenues for the first quarter this year. Revenues slipped to $1.07 billion from $1.33 billion last year. The company lost $677 million during the quarter, compared to $117 million last year.
Coach’s sales fell from $965 million to $772 million, Kate Spade’s sales fell from $281 million to $250 million and Stuart Weitzman fell from $85 million to $51 million from last year.
The Italian luxury company saw revenues decrease by 30 percent in the first quarter this year, totaling at 152.8 million euros.
Under Armour Inc.:
Under Armour saw a loss of $590 million in the first quarter ending in March. Revenues were $930 million, down from $1.2 billion during 2019’s first quarter.
Urban Outfitters Inc.:
The company saw a quarterly net loss of $138 million. In the three months ending April 30, total sales fell 31.9 percent to $588 million, down from $864 million during the same time last year.
Vince Holding Corp.:
The company reported an operating loss of $21.9 million in the first quarter ending May 2, compared to an operating loss of $6.23 million during the same time last year. Total sales decreased 47.3 percent to $39 million in the first quarter compared to $74 million from last year.
Stock Prices Drop:
The stock market has been drastically affected by the COVID-19 outbreak, with the Dow Jones Industrial Average opening in the U.S. on Feb. 24 at a sharp decline decreasing 2.8 percent — or 813.11 points — to 28,179.30.
The decline continued throughout the week, with the stock market experiencing one of its worst weeks since the 2008 recession by Feb. 28, with the Dow Jones Industrial Average traded down 978.61, or 3.8 percent, to 24,788.03 in the first hour of trading. This left Blue Chip stocks off 14.5 percent for the week.
Losses are continuing as the outbreak continues its global spread. On March 12, the Dow Jones Industrial Average dropped 1,464.94 points — or 5.9 percent — to 23,553.22, leaving the market down 20.3 percent since its all-time high on Feb. 12. Other global markets saw similar declines, including the Nikkei 225 in Tokyo (down 2.3 percent to 19,416.06), the FTSE 100 in London (down 1.4 percent to 5,876.52), the DAX in Frankfurt (down 6.0 percent to 9,815.35) and the CAC 40 in Paris (down 5.9 percent to 4,336.41).
On April 1, Macy’s Inc. was dropped from the S&P 500 index that tracks the largest stocks on Wall Street. The collective value of all the company’s stock stood at $1.5 billion, a drop of 70 percent from the $5.1 billion market cap it had started the year with.
Retailers across the globe are shuttering their doors in an effort to contain the virus, including Neiman Marcus, Chanel, Ralph Lauren, Walmart, Nike, Apple, Urban Outfitters, Everlane, Lululemon, Abercrombie & Fitch, Glossier, Allbirds, Anthropologie, Sephora, Nordstrom, Saks Fifth Avenue and more.
Several retailers, including Net-a-Porter, Victoria’s Secret, Pink and TJX, have also closed their e-commerce sites temporarily.
As states begin lifting stay-at-home orders, major retailers including Macy’s, Dillard’s, Saks Fifth Avenue and Neiman Marcus, among others, have started implementing store reopening strategies.
High-Profile Figures Test Positive:
As the virus continues to spread, a number of high-profile individuals have tested positive for COVID-19. Footwear designer, Sergio Rossi, passed away from the virus in Italy on April 3. He was 84.
On March 11, Tom Hanks and his wife Rita Wilson revealed on Instagram that they tested positive for COVID-19 while working in Australia. The couple was later released from the hospital on March 16, according to their son Chet Hanks, who posted a video update on his Instagram.
Actor Idris Elba revealed on Twitter on March 17 that he tested positive for COVID-19. He stated he isn’t experiencing symptoms, but got tested after he found out he came into contact with someone who tested positive for the virus.
Prince Charles tested positive for COVID-19 on March 25, making him the second major royal to contract the virus after Prince Albert of Monaco revealed his diagnosis last week. Prince Charles is said to have mild symptoms and is self-isolating with the Duchess of Cornwall — who does not have the virus — at their home in Scotland. Two days later it was announced that U.K. Prime Minister, Boris Johnson, has also tested positive for the virus.
A number of NBA players have also contracted the virus, starting with Utah Jazz player Rudy Gobert on March 11. Three additional players have tested positive since, including Kevin Durant, Donovan Mitchell and Christian Wood, according to the NBA.
Canadian Prime Minister Justin Trudeau’s wife, Sophie Grégoire Trudeau, has also tested positive for COVID-19, according to the prime minister’s press office on March 12.
Something Navy founder and influencer Arielle Charnas revealed in a March 18 Instagram post that she has tested positive for COVID-19. Charnas took to her Instagram a few days prior to inform her 1.3 million followers that she was feeling flu symptoms, posting a number of Instagram Stories that showed her getting tested for the virus at a drive-thru clinic.
Walmart Sued Over Coronavirus Death of Longtime Worker:
The retailer appears to be the first major company sued over the COVID-19-related death of an employee. The family of Wando Evans, who worked at an Illinois Walmart for over 10 years, is suing the retailer for his death, alleging that Walmart failed to protect its employees from the virus by not implementing social distancing practices in store or providing employees with protective gear, such as masks or gloves, while working.
France Closes Schools and Universities:
French President Emmanuel Macron announced on March 12 that schools and universities will be closed starting March 16 in an effort to contain the outbreak. He also urged businesses to let employees work remotely.
“We’re only at the beginning of this epidemic,” he said in a televised speech on March 12. “Everywhere in Europe, it’s accelerating, it’s intensifying.”
The president then ordered a shutdown on March 16, prohibiting residents from leaving their homes for the next 15 days. The country then announced on March 17 a 45 billion euro aid package for companies and workers impacted by the lockdown.
The lockdown has since been extended to April 15, and may be extended even further.
It was revealed on March 11 that a staffer at Condé Nast is displaying symptoms of COVID-19. As a result, the media company is asking its employees to work from home until the end of March.
Vox Media Closes Office:
Vox Media, the parent company of New York Magazine, revealed on March 9 that it would be closing its offices after a non-Vox employee tested positive for COVID-19. The office, located at 250 Vesey Street, will be closed until March 12 and will be cleaned.
Italy on Lockdown:
Italian Prime Minister Giuseppe Conte decreed Saturday that much of northern Italy will be on lockdown in order to contain the outbreak. The lockdown effects Lombardy and 14 provinces, including Veneto, Emilia Romagna and Piedmont, among others until April 3. The lockdown was later extended to effect the entire country.
Givaudan has closed one of its research sites near Zurich on March 5 after a visitor at the site has tested positive for the virus. The Swiss fragrance and flavors supplier closed the facility — which employs roughly 400 people — as a precaution and is doing a deep cleaning of the site.
As COVID-19 spread to Italy, it was revealed that a 38-year-old man employed by Unilever has been diagnosed with the virus. The man works at a Unilever facility located in the municipality of Casalpusterlengo and works in the research and development department.
It’s been reported that roughly 60 of the man’s coworkers have been isolated by the company’s facility as a precaution and are waiting to get tested before being released.
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