Coronavirus And Its Effect On The Fashion Industry

It is safe to say that Chinese consumers, whether purchasing in China, online, or abroad, are an ever-important part of the fashion industry. Specifically, Chinese consumers spend billions of dollars on luxury goods. In 2018, Chinese consumers were responsible for 1/3 of “the €260 billion spent on personal luxury goods.” China’s share of the global luxury market is projected to be 41% by 2025. Additionally, China is a major player in the global fashion supply chain; the country is the largest producer and exporter of textiles and apparel in the world. This post was originally published on the Cardozo Arts & Entertainment Law Journal website on February 23, 2020. The original post can be accessed via the Archived Link button above