Views: 3 Author: Site Editor Publish Time: 2020-03-31 Origin: Site
Government orders compel brands to shut stores
Fashion brands in Italy and China have begun to close their stores as governments in both countries have advised their residents to avoid public spaces. Italy has also forbidden its citizens to gather in public. Capri Holdings, which owns Michael Kors, Versace, and Jimmy Choo, has closed 150 stores in China.
As most Chinese workers have been advised to stay at home, production at all brand factories has stopped. This is likely to delay order inventories of factories in China. As Gary A Wassner, CEO of Hildun Corporation and Chairman of Interluxe told Time magazine recently, companies selling private labels or brands sold specifically to one store, are likely to face a major hit due to their quick turnarounds.