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The other main concern is the support the safety of its employees and consumers.

“At the end of its FY2019, Clarks had 521 stores in the UK (including concessions), and while it began a portfolio review in 2017, it really should have started the process of eliminating stores much earlier, as the channel shift over the last decade has not come as a surprise. Progress has been at a snail’s pace – while it has shut some concessions it had the same number of full price stores in the UK at the end of FY2019 as it did at the end of FY2018.”

Forecasts suggest that COVID-19 will wipe off US$297bn from the global apparel market in 2020, a 15.2 percent decline on 2019. The US (largest apparel market) will account for 42 percent of all lost spend, which will contribute to more major chains filing for Chapter 11 over the next few months.

India is in phase 3 of its lockdown brought about by the COVID-19 pandemic. While the novel coronavirus has had a terrible humanitarian impact, it has exacted an appalling toll from economies all over the world. One of the worst hit sectors of the economy is Retail. Apparel and accessories are set to be the hardest hit retail sectors with the global apparel market forecast to decline 15.2 percent this year (equivalent to $297bn), says GlobalData, a leading data and analytics company, although the recovery has already started across markets released from lockdown and social-distancing measures.

“The store closures resulting from back-to-back lockdowns have adversely affected our business operations and led to significant decline in revenues, which was otherwise growing at 29 percent over last year till mid-March. This impacted gross margins and EBITDA disproportionately, as large part of our business expenses are fixed costs,” said V-Mart Retail in a post-earning statement.

“Yes, after multiple rounds of discussions, Casa Everz Gmbh has decided to shift its entire production from China to India,” told PTI in an e-mailed response.

“Now a new unit will be set up with a production capacity of over 3 million pairs. We have a 2-year time horizon to reach that capacity after all the necessary cooperation with the UP government,” Jain further told PTI.

As per a Bloomberg report, as many as 1,089 apparel production units in Bangladesh have had orders cancelled, worth roughly $2.8 billion due to the escalating coronavirus outbreak. The Bangladeshi humanitarian crisis has made headlines globally, raising serious concerns about ethical sourcing in fashion and textiles.

researches pegging it at an estimated US$ 200 billion by 2026. While the retail landscape was mangled by the ongoing COVID-19 crisis, for the e-commerce segment it was a blessing in disguise. Experts now believe that the e-commerce industry will hit the US$ 200 billion mark much sooner. Business Standard revealed in an article published before the lockdown that big names like Flipkart, Amazon and BigBasket have registered a 30 percent spike in orders as COVID-19 spreads.

The Clothing Manufacturers Association of India (CMAI), representing the interests of close to 4,000 members and servicing over 20,000 retailers, has written to the Minister of Textiles Smriti Zubin Irani, and the Minister of Commerce and Industry Piyush Goyal, and has submitted a representation to the Government to consider levying a temporary additional COVID Duty on all imports of apparel and readymade garments, including on those garments imported from countries with whom India has a Free Trade Agreement, especially Bangladesh.

Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of Rs 110 crore, according to a top official of the company’s licensee Iatric Industries Pvt Ltd.German footwear maker to shift production to India from China

CMAI has welcomed the measures announced by Nirmala Sitharaman, Finance Minister, especially those connected with the Government’s support to the MSME Sector.

According to Ved, there are limited customer walk-ins in stores even though conversions are very high.

Most corporates have implemented the ‘work from home’ policy – a trend which was growing earlier as well but has caught on almost instantaneously now.

– in-store Wi-Fi

This represents a real and immediate opportunity to drive efficiencies digitally. At the same time, this crisis has highlighted the importance of investment in enabling technologies like cloud, data, etc.

“For us, the focus is, how do we best reach out to our audience in a time where people might still be nervous about travel? The key will be to reassure our clients that it is done in a safe and timely fashion, without compromising on the personalised experience of shopping,” she further told PTI.

Technologies that measure the number of people in a store and how long they stay there

– Sanitization of all garments from the trial room

According to her, the luxury industry will regain its strength when the current situation stabilizes although certain changes will be permanent. For example, China may no longer be the priority territory for luxury brands to look for their supply chain.

McKinsey & Company’s Global Health and Crisis Response report outlines the high chances of this crisis being the harbinger of the end of “extreme consumerism”. The responsibility to tackle this crisis rests on the shoulders of brands and retailers who will have to come up with indigenous and innovative ways of reducing stock and reinfusing value into their brand as well as products. The report emphasizes on the fact that although it might prove to be an uphill task, gaining back the trust and enthusiasm of cash-strapped consumers post this crisis should be at the top of the priority list for brands and retailers across the globe.

Aside from this, Agarwal also said that while adapting to changing consumption patterns and the new normal, the situation has thrown open opportunities for retailers and brands to work with others like never before.

Additionally, Bata India employees through its ‘Bata Heroes’ initiative, have been relentlessly working with Government officials and other organizations to respond to the crisis fuelled by COVID-19 with donations in areas of PPE equipment such as masks, face shields & food packets. The company has been instrumental in manufacturing and distributing face masks and face shields to employees, local communities, hospitals and local police.

The Government has in several of CMAI’s discussions and interactions pointed out to the various treaties signed with Bangladesh and other SAFTA countries, and that it would be difficult, if not impossible, to dilute the agreements.

Also, with about 50 million Chinese people in quarantine and growing travel regulations to other countries, Chinese buyers were also missed in fairs and high streets around the world. This decline in footfall has impacted the global luxury fashion market the worst, as ‘Chinese customers accounted for 90 percent of the global market growth in 2019, reaching 35 percent of the value of luxury goods sold in the world,’ as stated the 18th edition of the Bain & Company Luxury Study.