French Fashion Union Conducted A Survey on Epidemic
French Fashion Union (FFU”) conducted a survey on the designer brand business during the epidemic(covid19). The survey subjects randomly selected 300 young designer brands in the association.
The survey results show that 54.3% of young designer brands can maintain normal business activities during the epidemic. But among these brands, 20% of the brands said that the operating loss reached more than 70%; 22% of the brands had an operating loss between 50% and 70%; only 21% of the brands had an operating loss below 50%.
The survey also found that more than half of the 300 brands are engaged in wholesale business. However, affected by the epidemic, more than 60% of the brands had to suspend this part of their business activities. To make matters worse, nearly half of the brands encountered payment delays during the wholesale trade of products.
In addition, of the brands surveyed, only 39% received the “Unity Assistance Fund” and 7.6% received state-guaranteed loans. Since government funding needs to refer to the operating income loss in 2019, 41% of brands now have to stop production because they cannot receive government funding.
For this situation, FFU expressed big concern: “If production is stopped at this time, many brands’ orders cannot be delivered and funds will not be available for the next project. Over time, these brands will face bankruptcy. Since then, the development of French fashion design It is even more uncertain.”
At the end of the press release, FFU pointed out: “Digital channel deployment is the best solution for young brands to reduce risks and increase revenue growth. If young brands do not focus on omni-channel development, they will become more and more backward.”
French Frashion Union Conducted A Survey on the Designer Brand Business During the Epidemic - /10
French Frashion Union (FFU") conducted a survey on the designer brand business during the epidemic (covid 19).