Brazil has reported 66,000 confirmed cases and 4,500 deaths from the coronavirus, reported by Hypebeast. This has led to severe economic downfall for the country. Similarly, there are been a major drop in fashion sales as well. There’s an estimated of 50% fall in fashion sales, according to WWD.
Luis Lima Chief financial officer from luxury beachwear brand Lenny Niemeyer said: “We are expecting 50 percent across the board.” She stated that the lockdowns in major cities like Sao Paolo and Rio have closed down stores temporarily. Other big Brazilian brands such as Lojas Renner, Riachuelo and Magazine Luiza are all also expected to see a similar decrease in sales.
Andrea Milanez, who handles São Paulo Fashion Week’s PR said: “All of Brazil is closed and the only stuff that’s selling is online. Everyone is doing sales but even then, no one is buying. People are worried about what is happening.” Furthermore, she also points out that after the pandemic, the consumer’s buying habits will change: “People won’t buy like they used to,” she added. “They will probably change their view of fashion and how they buy it. We will probably see a lot more online buying.”