Indian Fashion industry hit by Covid-19 outbreak

Team Udayavani, Apr 21, 2020, 12:38 PM IST

Fashion industry is hardest hit as a result of the coronavirus pandemic, with millions of jobs likely to be lost and Luxury goods makers anticipating significant losses.

Most of India’s local designers are small business owners who employ less than 100 people. The coronavirus outbreak has left those designers especially vulnerable, confronting an obliteration of sales, wage loss and employee layoffs.

Especially, Raw material producers, weavers, dyers, designers and tailors in India’s textile industry are vulnerable.

India’s largest fashion body, the Fashion Design Council of India, cancelled its biannual ready-to-wear fashion week days before its opening show in early March which cost the organisation millions of rupees.

Sources claim that, Online handicraft store, Craftsvilla, was looking for an acquisition deal in May and Voonik, the six-year-old company was looking to call it quits Another online fashion brand StalkBuyLove’s funding has also been stopped.

However, experts claim that in order to survive the pandemic, brands will have to reconsider new strategies to keep their business models active.