The Coronavirus’ Effect on the Global Apparel Industry, Business and Industry Trends Analysis

The Coronavirus pandemic had a devastating effect on apparel manufacturers, retailers and related logistics and support firms on a global basis.  A rash of bankruptcies was one result, including Stein Mart, Tailored Brands, Brooks Brothers, Lord & Taylor, Lucky Brand, JCPenney, Neiman Marcus, J. Crew and True Religion. Effects included: =         A slowdown in consumer spending on apparel and accessories. =         Reduced store counts at retail apparel chains, and thereby lower demand for shopping center and mall space. =         A decline in sales of luxury goods. =         A continuing acceleration of retail to ecommerce and away from brick-and-mortar stores. =        …

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