By Ajai V Singh – Founder & Managing Director, Colombo Fashion Week
The fashion industry needs a hard reset, and in my view, 2021 could give the industry the opportunity for that reset, realignment and recalibration
Fashion was slowly losing relevance over the past decade, until the global pandemic in 2020. The lockdown of cities, societies and citizens was not only a physical one but also an emotional and mental one. In this realm, where fashion is anyone’s primary expression in a social setting was also shut down.
Fashion businesses from small to large, from retail to online were all scrambling to get that panacea that will keep them alive. An interesting observation here is that even discounts up to 80% were not able to save many businesses and that is exactly where the problem lies. The idea that discounts will save your business was always a deception and yet businesses relied on it.
Original Article – https://www.ft.lk/columns/Making-sense-of-fashion-in-2021/4-714905