Nina Jobst
Research expert covering South Korea
Coronavirus (COVID-19) impact on apparel and textile industry in Europe - statistics & facts
There is hardly any industry that went undisrupted due to the consequences of the coronavirus (COVID-19) outbreak. With non-essential businesses remaining closed for most of March, April, and May, clothing and apparel retail stores recorded high losses in sales. Financial results published by renowned fashion brands such as the Spanish Inditex Group, the Swedish H&M, and the British retailer Next laid bare the enormity of the pandemic’s impact. On top of that, the dependency of European clothing retailers on global suppliers meant that many companies had to cancel, reduce, or even fail to complete already-placed orders.
