Now that we are still apart, my love for fashion burns,” wrote Alessandro Michele on the 16th of May. While this collective need for beauty burns brighter than ever in these dark times, fashion is also reckoning with a new reality as the world grapples with lockdowns and all the resultant turbulence—halted production, cancelled orders, slashed budgets, shuttered stores, and consumer enthusiasm at an all-time low.
While the global fashion industry at large has been rallying for a long-overdue systemic change, now that the world has been effectively put on pause, our local and regional fashion industry is facing a separate set of problems within this same flawed system. These are not well-funded corporations with the resources to withstand months of economic inactivity. With the bulk of their revenue derived from home territory, a prolonged economic standstill could result in very serious repercussions.
A darling of the Singapore fashion industry, In Good Company, founded by Sven Tan, Kane Tan, Jaclyn Teo and Julene Aw, has seen its sales nosedive. “Before the circuit-breaker, 75 percent of our revenue came from our brick-and-mortar locations. All four stores in Singapore are now closed and even though there has been increased revenue and traffic at our e-store, it would be difficult for it to reach the same numbers as our physical stores. In all, we have seen a 70 percent decrease in revenue from the period of February to April,” says the brand. The apparel label’s overseas business in the region has been impacted as well. “Our international stockists in Thailand, Indonesia and Phillipines are mostly based in malls, which have experienced greatly reduced traffic. We understood when they had to reduce orders; one has even cancelled.”
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Out Of This World
Celestial bodies animate autumn's most elegant spritzes.
Do You Fashion, Bro?
As the number of male fashion influencers swells, we look at what's driving this trend.
BEYOND BEACHES
Escape Down Under for everything your heart desires a romantic intimate wedding, or a cruise along Sydney's picturesque harbour. The world is your oyster and the best thing is you can eat it too.
DOWN TO EARTH
In the spacious apartment of Geraldine Toh and Vincent Lim, art, design elements and an earthy sensibility commingle in perfect harmony.
CRUISING ALTITUDE
With his idiosyncratic Thai movies, dashing movie star good looks and frequent Paris red carpet appearances, Apo Nattawin Wattanagitiphat is bringing the best of Thailand to the rest of the world.
PUT A RING ON IT
Complete your love story with a beautiful engagement ring and exquisite bridal jewellery from storied London jeweller, GRAFF.
PERFECTING TIME
With its unique Atelier d'Antoine programme and an assembly of artisans, Jaeger-LeCoultre shows how it takes watchcraft into the next level.
SOMEWHERE OVER THE RAINBOW
'The Shape of Colours', Hermès haute bijouterie collection, is a true technicolour dream.
HAUTE BIJOUX
The latest and most talked-about collections.
REPAIR REVOLUTION
Unlock your skin's potential.