How Covid Is Transforming the $380 Billion Luxury Fashion Industry
In the premiere episode of The Business of Fashion, we meet cutting-edge designers as they prepare for the sector’s post-pandemic reality.
Like almost every other sector of the global economy, the $2.5 trillion fashion industry wasn’t spared the wrath of the coronavirus pandemic. The $380 billion market for luxury fashion—given its reliance on tourism—took a massive hit. Last year was the segment’s worst on record, and fashion houses sought to adapt by using technology to drive creative and business innovation.
In our first episode, Imran Amed, the founder and chief executive officer of The Business of Fashion, travels to Paris for the first time since global lockdowns to speak with designers Demna Gvasalia of Balenciaga and Marine Serre, both of whom are exploring provocative strategies toward building a post-pandemic industry that’s more socially and environmentally aware.