This year we helplessly watched Covid-19 bring the global economy to its knees. Governments around the world responded by implementing lockdowns to contain the rapid spread of the deadly pandemic to their populations. Unfortunately, these measures — intended to save lives — suffocated economies.
Like many other industries that were hit hard by the Covid-19 lockdown, the fashion industry — in which I have invested my energies and resources over the past several years — was not spared the ravages wrought by the pandemic. The biggest shift in how the fashion industry operates has been its pivot towards digital platforms and e-commerce. This shift was in full display at this year’s African Fashion International Joburg Fashion Week, which went completely digital for the first time since its inception and produced a fashion film.
We are likely to witness an increase in investment in local manufacturing, a development that will give employment in the industry a major shot in the arm, not forgetting the expansion of supply chains, which will also benefit small businesses. If we manage to steer the economy out of the recession, the fashion industry will benefit immensely from robust economic growth that fast-tracks the emergence of consumers with high disposable incomes as well as from the return of tourism.There are pledges that were announced at the investment conference that will rub on positively on the fashion sector. These pledges highlight the industry’s interconnectedness with other sectors of the economy.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.