Fashion brands caught in the crossfire are doing what they can to avoid the worst possible outcomes from the escalating US-China conflict but it will be virtually impossible to emerge unscathed.

Outlets and off-price retailers in China are seeing business boom as luxury brands pump excess inventory into the country at bargain basement prices. But the pandemic clearance strategy is a double-edged sword.

While other countries have experienced panic buying of essentials during lockdown, China has been debating whether a decadent shopping spree known as 'revenge buying' will be unleashed after the pandemic.