Coronavirus Pandemic nearly wipes out 50% of Brazil’s Fashion and clothing industry
As Brazil battles the Coronavirus pandemic with more than 67,000 confirmed cases and around 4600 deaths, Brazil’s fashion industry is facing a severe crisis of its own. The country’s Fashion industry, which is fourth-largest in the world, is facing the brunt with an estimated drop of 50 percent in sales. Brazil before the pandemic was a major contributor to the global fashion economy
The WWD report confirmed the figures, Luxury beachwear brand Lenny Niemeyer’s Chief Financial Officer Luis Lima expresses concern over the drop in sales and remarks, “We are expecting 50 percent across the board.” Luis Lima further added that the lockdowns in the country’s biggest cities São Paulo and Rio have led to many of the brand’s stores being temporarily shut.
This scenario is not only being faced by the beachwear brand Lenny Niemeyer. Many other big Brazilian fashion brands like Lojas Renner, Magazine Luiza, and Riachuelo are all also expected to see a similar fate of decrease in sales.
São Paulo Fashion Week’s public relations head Andrea Milanez says, “All of Brazil is closed and the only stuff that’s selling it online.” She remarked that everyone is selling, no one is buying. She further added that people seem to be extremely worried about the fact of what is happening in the world because of the pandemic. She was of the view that after the pandemic is over, spending habits of the consumer’s would change. When asked to clarify what she meant, she said, “People won’t buy like they used to. The world will probably end up changing their view of fashion and how they buy it. We will end up seeing a lot more online buying.”
Now the big question arises that will the Brazil Fashion Industry ever recoverand come back to the normal. Once the pandemic is over almost all the economies of the world will be crippled and face the crisis. The consumer will change his viewpoint and will likely never end up buying in the same manner as they did before the pandemic. The Fashion Industry needs to become overly creative to gear back to life. All the world is waiting to see what happens.