For Immediate Release:
Decreased demand for fashion clothing during Covid 19 has left retailers with no choice other than canceling the bulk orders. They are afraid of having a pile of stocks that will lose their value over time. The postponed and canceled order has left International clothing manufacturers struggling to sell the already made clothes.
Seasonality and shifting trends could also have an adverse impact on the clothing manufacturers overseas, even if the requirement for clothing returns to normal levels. Retailers and fashion clothing manufacturers alike may end up with a huge amount of unsold clothing that they may not see demand any time soon.
Retailers are not taking responsibility after canceling the orders. Recently one news has shaken the fashion industry. The International clothing manufacturers of Bangladesh faced the shock of a canceled order of $1.5 billion. Many people lost their jobs, and many facilities shut down overnight. And it will take a long time to recover from this. 10% of the clothing facilities of Yangon, Myanmar, have been closed. They could not carry on after the losses.
Just when the fashion clothing manufacturers started recouping from its frightful phase and a second wave of the Covid 19 has started inflicting reparations all over again.
With the second wave, many countries are declaring lockdowns and emergencies. Another round of business and retail closure is already underway. So it can be expected that this will cause issues for almost all the sectors. Many retailers prefer visiting clothing manufacturers overseas facilities. But due to the International travel restriction, they have no choice other than waiting.
As per the World Trade Organization, world merchandise trade appears to have bounced back robustly after falling amid the Covid-19, but whether we will see any sustaining growth or not, that can not be predicted.
When we talk about the ‘fashion industry,’ as a whole, we mean all the stakeholders involved in this value chain. The fashion industry plays a very essential role in creating jobs, paying over 60 million workers worldwide, and in a few countries, the sector is a major contributor to GDP output.
The first wave already shook clothing manufacturers overseas. The situation was so catastrophic that the jobless workers had no choice other than revolting. Police had to apply force to control the crowd. The COVID-19 outbreak revealed the helplessness of global supply chains as many countries restricted International clothing manufacturers trade, supply chain logistics were interrupted, and orders were canceled due to abruptly diminishing demand. The changed business scenario is forcing the whole fashion clothing manufacturers to review strategies.
With the advent of the second wave, fashion clothing manufacturers are gearing up and implementing new rules to create a sustaining model.
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