Coronavirus news dominated the headlines for weeks, but specifically during the past few days, news of the second wave of the deadly virus began to spread, which had long since officially turned into a pandemic.


It started with the decision of England and France to impose a quarantine in the coming days and to re-close again. The last few days have carried a continuous series of increasingly unfortunate news, with dozens of countries announcing double rises in the number of injuries and deaths, while countless conferences, concerts and sporting events have been postponed or canceled in various parts of the world.


Fashion is not free of all these negative influences, especially since China and Italy are among the most important producers and exporters of fashion, in addition to the fact that other global capitals have been greatly affected. For example, the Corona crisis caused a sharp drop in purchase orders, forcing high-end brands to close their stores, delay opening new stores, and halting plans to spend on ads. The question arises these days what all this social and financial chaos means for the fashion industry in the long run.


For example, the Dallas-based chain "Neiman Marcus" has begun to close its low-priced stores, to focus on wealthy customers. The "Neiman Marcus" chain is also set to cut about 500 jobs it has in its low-priced stores, in order to improve the institution's liquidity level.


As for Armani, it has announced its donation of 1.25 million euros for efforts to combat Corona in Italy. Donatella Versace and her daughter Allegra also donated 200,000 euros to the intensive care department of the San Rafael Hospital in Milan to support the fight against the Corona virus.


For their part, "Adidas" and "Puma" announced their expectations of a decline in their sales in China in the midst of the outbreak of "Corona". Adidas expects a decline in operating profits of up to 500 million euros, while Puma announced that it no longer expects its business activity to return to its usual rate anytime soon. Likewise, Polo was affected by the Corona outbreak, but she announced that it is impossible to fully anticipate the impact of the epidemic on its business activity at the present time. It is noteworthy that "Polo" witnessed a 4% decline in its basic profits for the current year.


In a related development, the company "Revlon" cosmetics announced that it had reduced its jobs by 1000 jobs in order to boost the level of profits, following the decline in sales for the fifth consecutive quarter. Emil Weiss, founder and CEO of Glossier Cosmetics, announced, via Instagram, that the company had closed all its stores for at least two weeks.


At a time when fashion designers, such as Giorgio Armani and Donatella Versace, have donated hundreds of thousands of euros to health institutions during the last period, after they began to suffer under the weight of the number of people infected with the Corona virus.