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.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Shivamogga: After attack on Bajrang Dal worker, situation remains tense; curfew imposed
Domestic flights allowed at 80% of pre-covid levels from today: Centre
NCB suspends 2 IOs for no show in court in Bharti Singh case
Related Articles More
What is Theremin, the instrument that turned 100 years old this year?
How is UK planning the roll out of COVID-19 vaccine for its citizens?
The story of Mahashay Dharampal Gulati of MDH
Assistant Scientist at DRDO, friends on a mission to free city trees from nails and staples
Who Is Neera Tanden, First Indian-American to head White House Budget office?
Pro-terror graffiti case culprits will be arrested soon: Basavaraj Bommai
Meal of Bakasur : Hotel Fish Campus Udupi | Udayavani
Things You Should Know When Starting A Business | Profitable Business Ideas After Lockdown
Mangalore Boat tragedy: We’re with families of deceased, says Kota after announcing Rs 6 lakh compensation
Mangaluru boat tragedy: Body of another fisherman recovered
K’taka COVID-19 update: 1446 new cases, 894 discharges, 13 dead on Dec 2
Azerbaijan discloses Nagorno-Karabakh conflict troop death toll
PM to lay foundation stones of 2 projects in Gujarat on Dec 15
Udupi Sri Krishna Matha installs Kannada nameboards after controversy
Hyderabad Civic Poll Results: Counting of Votes to Begin at 8 am Tomorrow