News & Insights

Coronavirus offers an opportunity to remake fashion industry

Published: July 15, 2020
Author: Nikhil Shinde

During the final days of lockdown, an estimated £10 billion of unsold clothing sat in warehouses across the UK with nowhere to go. Coronavirus has led to a dramatic loss of sales for spring/summer collections and fashion outlets are still waiting to see whether demand will return to the British high streets. The evidence paints a bleak picture, with UK footfall at shopping centres still down by more than 50 per cent compared with pre-crisis levels.
What now for the piles of unsold clothes, unwanted for the warm summer? Retailers will be working with suppliers to carry over stock to next year, reallocating fabric to the autumn and winter, and donating their unsold stock to charities. However, retailers will need to take other steps too;

Related Posts

Export Outlook Remains Bright; Says FIEO Chief

New Home Category Launched by Banana Republic