Fashion Industry News Update: March 16-20

We’re starting a new series on Simply Audree Kate called “Industry News Update.” This is a chance for us to share some of the biggest headlines in fashion, beauty, and world news right to you. We hope that you are all doing well during this troubling time, and we hope to shed some light on recent events but in a positive way. These are meant to be short bursts of information, so sit back, relax, and enjoy a brief industry update.

This Year’s Met Gala Has Been Postponed

On Monday, Anna Wintour, Editor-in-Chief of Vogue, announced that The Met Gala would be postponed indefinitely. She saw this as a necessary precaution to help the stop of COVID-19. Currently, The Metropolitan Museum of Art is closed until April 4th, and the Gala was to be held on May 4th.

COVID-19 Affects The Fashion Industry As A Whole

Along with many other industries, Coronavirus has dented the fashion industry. Fashion shows, buying, and online retailing are all being affected. Fashion weeks were significantly affected by the virus; smaller events were held in place, and talks of virtual fashion shows were on the table. Buying appointments were canceled, and samples are not being shipped on their original timeline. On a positive note, online retail has sky rocked in recent weeks.

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Dear BoF Community,⁠ ⁠ It’s very, very tough out there. The public health emergency that has gripped the world is creating untold human suffering and savaging the economy. The seriousness of the situation is unprecedented. But for some, myself included, it brings back memories from the 2008 global financial crisis: some dark, some full of hope.⁠ ⁠ When the financial crash first hit that year, it was a scary and uncertain time for the global fashion industry. It seemed the entire financial system might collapse. But as a newbie blogger at the time, it was also a call to arms. Indeed, BoF’s reputation for critical analysis on the fashion sector was first forged as we faced the monumental challenges brought about by the 2008 crash and the Great Recession that followed. By offering analysis and insight that helped readers make sense of the scary headlines coming from financial centres around the world, along with the tectonic shifts brought about by technology and globalisation, BoF really found its purpose.⁠ ⁠ This week, as stock markets continue to plunge, entire countries go into lockdown and consumers shelter at home, it’s become increasingly clear that the spread of the deadly coronavirus is a ‘black swan’ that seemingly comes out of nowhere and changes everything. But at BoF, we are rising to the challenge and doubling down on our mission to open, inform and connect the global fashion industry, in order to provide you with the compass you need to navigate the crisis in real-time and prepare for what lies ahead.⁠ ⁠ We are tracking how the crisis is impacting the industry in real-time with our free-to-access BoF Coronavirus Liveblog. We are running a special #BoFPodcast series featuring expert insights on how to turn the crisis into an opportunity. The BoF events team is switching gears to bring you a series of BoF Live events via Zoom and Instagram, offering insight, advice and inspiration every day starting next week.⁠ We are grateful to you for supporting our award-winning journalism. You can count on BoF to help guide you through these troubled times.⁠ ⁠ Imran Amed, Founder and CEO

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LVMH Donates Money and their Factories

In February, the company donated $2.2 million to the Chinese Red Cross. They’ve also donated their factories to produce hand sanitizer rather than perfume and cosmetics.

Arielle Charnas of Something Navy Tests Positive for COVID-19

Popular influencer, Arielle Charnas, tested positive for Coronavirus on Tuesday, March 18th. Charnas said that she was feeling sick for the past two days, and it was unlike any other virus she’s had. After being advised to get an in-car test, she headed to a hospital in New York, tested positive, and shared her results with her followers.

Pyer Moss NYC Office Turns Into Donation Center

Kerby Jean-Raymond, the creative director of Pyer Moss, announced that it’s NYC office is turning into a donation center for N96 Masks and latex gloves. The company is also setting aside $5,000 to purchase these supplies to donate to medical professionals.

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