Photo by Sunyu Kim on Unsplash
The new situation of the markets
While the truly fragile companies are striving to recover from the crisis, the nimblest ones are already seizing new opportunities. By upending the established order, the health crisis is forging a new geopolitics for the industry, which needs to be entirely mastered in order to redirect business and strategies.
A complete re-invention of the entire value chain
A China stronger than ever, a U.S. determined to counter that leadership by leveraging its own strengths (domestic consumption, technological might, etc.) and a Europe mobilizing to stay in the game: that’s the broad outline of the fashion industry following the violent and unprecedented health crisis. Yet it’s important to bear in mind that everything is still up in the air and opportunities are everywhere, a point on which all the experts concur. Consumers have by and large altered their expectations but remain more drawn to fashion than ever, provided it integrates their own values and desires. Better still, new markets are emerging, especially in China, along with a new generation that is demanding yet determined to purchase creative, virtuous and desirable products. These new imperatives are already forcing a complete re-invention of the entire value chain – creating new business and thus growth. It’s a time for cautious optimism, and above all, an urgent need for a complete rethink – from raw materials to finished product – to access a completely transformed and renewed market. Lydia Bacrie for Première Vision