Brazil's Fashion Sales Drop 50% Amid Coronavirus Pandemic

“All of Brazil is closed and the only stuff that’s selling is online.”

By
Fashion 
2,469 Hypes 3 Comments

Brazil, which currently reports over 66,000 confirmed cases and 4,500 deaths from the coronavirus at time of writing, is facing severe economic drawbacks as a result of the pandemic, leading to an estimated drop of 50 percent in fashion sales.

The figure comes from a recent report by WWD, which notes a comment from chief financial officer Luis Lima from luxury beachwear brand Lenny Niemeyer — “We are expecting 50 percent across the board.” — that shares the same sentiment as analysts’ predictions for retails sales in general. Lima also pointed out that lockdowns in the country’s biggest cities including São Paulo and Rio have led to many of its store being temporarily shut down. Other big Brazilian brands such as Lojas Renner, Riachuelo and Magazine Luiza are all also expected to see a similar decrease in sales.

“All of Brazil is closed and the only stuff that’s selling is online,” says Andrea Milanez, who handles São Paulo Fashion Week’s public relations. “Everyone is doing sales but even then, no one is buying. People are worried about what is happening.” She also points out that after the pandemic, the consumer’s spending 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.”

In other business-related news, adidas’ sales fell by 19 percent and missed profit forecasts by 93 percent in Q1 2020.

Read Full Article
Source
Wwd

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

100 Users Online

What to Read Next

Lance Skiiiwalker Taps Nick Hakim for New Single "In the World"
Music

Lance Skiiiwalker Taps Nick Hakim for New Single "In the World"

The TDE signee’s first new song in nearly four years.

Tesla's New Software Update Identifies Traffic Lights and Stop Signs on Autopilot
Automotive

Tesla's New Software Update Identifies Traffic Lights and Stop Signs on Autopilot

One step closer to full autopilot.

The Comedy Store and Fellow Comics Raise Over $100,000 USD With Three-Part Podcast
Entertainment

The Comedy Store and Fellow Comics Raise Over $100,000 USD With Three-Part Podcast

Dave Chappelle also makes a surprise appearance.


Under Armour Pays Homage to Warriors Fans With Curry 7 "Dub Nation 2"
Footwear

Under Armour Pays Homage to Warriors Fans With Curry 7 "Dub Nation 2"

Offered in the classic Warriors colorway.

Samsung Leaks Suggest New Smartphone With Pop-Up Camera
Tech

Samsung Leaks Suggest New Smartphone With Pop-Up Camera

Likely to be part of the Galaxy A series.

JME Drops off Visual for 'Grime MC' Highlight "You Know"
Music

JME Drops off Visual for 'Grime MC' Highlight "You Know"

The fifth visual from the grime pioneer’s latest studio album.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.

Help Support Us

We need ads to keep the lights on and to continue providing free news to our readers. We’d appreciate your support by whitelisting HYPEBEAST on your ad blocker. That way you can keep reading all the great stories for free.

If you have already whitelisted us, simply refresh this page. To find out how to whitelist us, click the button below.

Back

Add Us to Whitelist

We appreciate your support in allowing HYPEBEAST ads. Most ad blockers have similar whitelisting steps and settings. If you need assistance, please contact us.

Adblock Plus

  1. Click on the red ABP icon in the upper right corner of your browser.
  2. Click “Enabled on this site” to disable ad blocking for the current site. In Firefox click “disable on HYPEBEAST”.
  3. Refresh the HYPEBEAST page that you were viewing.

Adblock

  1. Click the AdBlock hand icon.
  2. Click “Don’t run on pages on this domain”.
  3. A new “Don’t run AdBlock on…” dialog may be displayed in the middle of the screen.
  4. Move the “Site” slider to the right. After that, click “Exclude”.
  5. Refresh the HYPEBEAST page that you were viewing.

uBlock

  1. Click the uBlock icon.
  2. Click the large blue “power” button in the menu that appears to whitelist the current website.
  3. Reload the HYPEBEAST page that you were viewing.

Firefox Browser

Firefox Tracking Protection may activate our whitelist notice, which can be disabled temporarily for a browsing session by clicking the shield icon in the URL bar and following the instructions.

Disconnect

  1. Click the Disconnect icon.
  2. Click “Whitelist site”.
  3. Refresh the HYPEBEAST page that you were viewing.