Dear BoF Community,
The rapid spread of novel coronavirus Covid-19 is causing widespread economic and social disruption on a global scale. The pandemic is sending shock waves through every facet of the fashion industry, from manufacturing supply chains to front rows at fashion week. Follow our live blog for minute-by-minute updates.
Latest Coronavirus Updates
- President Trump has walked back from previous statements that things could be back to normal by Easters, extending guidelines on social distancing in the US for at least another month, and perhaps until June.
- In China, there are more signs of a recovery, as travel restrictions are lifted on the province of Hubei, where the virus' outbreak was initially concentrated. The province has now reported no new cases for six consecutive days.
- Taubman, a US mall owner, sent a memo to tenants last week notifying them that they'd be required to pay their rent in full, despite stores shuttering in response to the coronavirus outbreak.
- E-commerce sales are not going to be the saving grace for most fashion brands during the lockdown. Apparel and accessories online sales dipped 23 percent in the week of March 18, compared to the same period last year, according to Earnest Research. Warehouses fulfilling online orders for Net-a-Porter, Stella McCartney and Vestiaire Collective have temporarily closed as well.
- Containment is hitting Australia, with the country's largest department store, Myer, announcing it will shut all stores and stand down around 10,000 workers without pay.