It’s about to be a decade since the last shut down of the fashion world took place – the brands were forced to close down, orders were cancelled and the factories were repurposed.
Something similar seems to be happening to us today.
With the pandemic on the rise, the fashion world is suffering a great deal of loss considering that not only have the stores been locked down, but the fashion weeks also seem to have been cancelled.
Before the whole axis of 2020 turned upside down, the fashion industry was one of those which were making the most profits and were literally thriving. This had been going on for quite a while and obviously it comes as a great shock for the industry to suddenly come to a halt and jolted out of its usual practice. The fashion industry was succeeding so greatly that the brands would consider over production of a certain collection or piece, rather than risking running out of stock. This practice was fuelled by the fashion icons and customers who were crazy about dealing in fashion – in short, fast fashion had literally taken over the world.
The current situation of the luxury brands where we stand at is the one where they are considering less and less production of goods because of obvious reasons. The situation is not the same as earlier – brands cannot risk excessive production believing it will be sold out. They are pulling back on investments and considering deduction on prices. Summer discounts and flash sales are being set up even before the summer has passed by. Everyone’s pulling back on deposits and holding off the new designs and releases, after all it isn’t the best time to be polishing the open sign on the door.
So what’s the inside scoop?
In the plight of current situation, luxury brands are already working through managing their sheets and sketching out an advanced plan which will get them through with a quick rebound. They seem to be having a hard time to consider department stores, and thus, every brand is going to work as per their convenience to make a decision on consolidating or disappearing from the stores, regionally or internationally – a decision which can make or break the deal.
The fact of the matter is that this pandemic has left people struggling to fulfill their day to day needs. Purchasing luxury items is definitely off the list for many. To put up with the disaster, there is a good chance, and let’s not forget that this has happened before, that fashion brands may give up on their “heritage-based origin” claim and move to off-shore, more cost-effective locations. Also, e-commerce and digital transformation will no longer be ignored by high-end brands, considering that physical shopping is going to be off the list for most consumers for quite some time. Also, we may find luxury brands also promoting the slow fashion trend along with post-pay shopping options to retain their clientele.
At Hybella, we are dedicated to providing top quality clothing from renowned brands at the most cost-effective prices possible. Whether you are looking for Arab clothing or would like some Western dresses and gowns, we’ve got you covered. Don’t forget to check out our collection today! While you’re at it, browse through our sales section to benefit from discounted price too!