The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Facing record numbers of new coronavirus cases and a rising death toll, Japan’s Prime Minister, Yoshihide Suga, has declared a state of emergency in Tokyo and three surrounding prefectures.
Consumption in Japan could fall by 1.7 trillion yen ($16.5 billion) in a month under the emergency conditions, according to an estimate by Toshihiro Nagahama, chief economist at Dai-ichi Life Research Institute.
Unlike lockdown measures in many other parts of the world, Japan’s business closures and stay at home guidance relies largely on voluntary compliance. The government is asking restaurants in Tokyo, Chiba, Kanagawa and Saitama Prefectures to close by 8pm, employers to encourage staff members to work from home, and residents to go out only for essential tasks. Schools, museums, cinemas, gyms and shops can remain open - though footfall is expected to be impacted by more people staying at home.
Widespread mask-wearing compliance means authorities have zeroed in on restaurants, where people remove masks to eat, as the public areas most likely to result in more coronavirus infections.
ADVERTISEMENT
In April last year, Japan instituted a similar state of emergency that was lifted one month later, in May 2020.
This week’s round-up of global markets fashion business news also features Latin American mall giants, Nigerian craft entrepreneurs and the mixed picture of China’s luxury market.
Resourceful leaders are turning to creative contingency plans in the face of a national energy crisis, crumbling infrastructure, economic stagnation and social unrest.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.