From small labels to recognized ones, all are fighting the survival of pandemic. Not a day goes by when another fashion company announce bankruptcy. According to Fashion Network:
Los Angeles label Denim of Virtue announced the closure
True Religion filed for bankruptcy, so did John Varvatos
Nike reports loss of $790 million
Tommy Hilfiger and Calvin Klein experience losses totaling $1.1 billion
Centric Brands filed for bankruptcy
Guess is closing 100 stores in the next 18 month
Victoria’s Secret is experiencing difficulties
Diane von Furstenberg closed down 18 of its 19 stores
Marc Jacobs let go nearly 60 employees
Brook Brothers is close to bankruptcy
Sies Marjan closed down
Opening Ceremony out of business
The pandemic is killing the economy . As for the recovery it could be longer and tougher than predicted.
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