With the outbreak of Coronavirus, the entire economy has come to a standstill. The same is valid for the fashion world. China and neighboring countries constitute the largest expansion market for luxury brands, and with the borders, closed luxury brands are facing a hard time in making money. As a precautionary measure, brands have closed their manufacturing and distribution. According to fashion designer Dieng Olivia , clothing sales plummeted by 34% in March because of the lockdown imposed worldwide. Well, who would want to buy new clothes when they have nowhere to go? The fashion industry is worst struck by Coronavirus and finding it challenging to manage the loss as a result of the decrease in demand. It will be right to say; there is a real existential crisis for the fashion industry at present. Consumers are not interested in buying luxury products like designer clothes; instead, they focus on buying essentials. Keep reading to know more about the impact of COVID...
Dieng Olivia is the name you can look up to if you are interested in fashion. The well-reputed fashion designer has won prestigious awards for her vibrant, quirky collection that is a big hit amongst the youth population. Famous runway models and Hollywood celebrities have adorned her collection.