This is a disaster. This will probably be the biggest recession the world has ever seen and fashion and retail is going to get hit hard. What the global spread of coronavirus (COVID 19) shows us is how interdependent our economies have become and what a fragile house of cards it all was in the first place. Those cards are disappearing quickly and the entire thing is coming crashing down.
Fashion brands and companies are in freefall and the current mindset is to cancel everything. Fashion had a problem with unsold inventory well before this. As the industry got bigger and the need for huge quantities to make a profit increased, unsold merchandise and how to get rid of it was a headache for the majority of brands, high-street or ‘luxury’.
It has been reported that garment factories in Bangladesh have now had orders worth more than US$2 billion cancelled by brands and retailers because of the global coronavirus crisis. Orders for nearly 650 million garments, worth a total of US$2.04 billion have been cancelled, impacting on 738 factories and about 1.42 million workers, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
Just as the Chinese factories start production again, Europe and US are mostly in lockdown with many shops closed and retailers cancelling orders.
Primark is using a force majeure clause in its contracts to cancel its orders, the Times newspaper said. “We are deeply saddened that this will clearly have an effect throughout our entire supply chain,” Primark Chief Executive Officer Paul Marchant told the newspaper.
While much of the SS20 season would have been made despite the reported disturbances in the supply chain from China at the beginning of the year, it’s not too late to cancel high summer stock or the waves of drops, brands, who don’t want to hold much stock, have become used to. Primark has no online sales, so all that stock will be stuck in stores and warehouses.
“We have large quantities of existing stock in our stores, our depots and in transit, that is paid for and if we do not take this action now we will be taking delivery of stock that we simply can’t sell. This is unprecedented action for unprecedented and frankly unimaginable times,” said Marchant.
Marks & Spencer has recently cancelled £100m in clothing orders.
This is the retail equivalent of cutting off limbs to save the vital organs. Brands don’t know how long this is going to last and what shape they and consumers will be in at the end of it. They need to save cashflow. Fashion feels particularly unimportant right now and will be awash with huge discounts to clear stock in the near future, and that’s in an already saturated market. Brands cancelling orders will impact manufacturing countries hard, but this isn’t a frivolous decision, this is a battle for survival.
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The V&A unveils the Tim Walker: Wonderful Things exhibition featuring Tilda Swinton, Grace Jones, Karen Elson and Grayson Perry, as well as over 150 brand new images inspired by objects in the V&A’s collections. The exhibition is the largest-ever exhibition on the photographer to-date, celebrating his 25-year career.
Left - The exhibition is centred around objects Walker has chosen from the V&A's collection
TheChicGeek says, “When I stopped religiously buying fashion magazines, probably over a decade ago now, fashion photographers feel off my radar. Their names were pride of place at the beginning of each editorial and they became as familiar as the models, editors and stylists.
But, things changed, budgets were cut and everything started to become advertiser lead, very samey and anonymous. Probably the reason why so many people have stopped buying them.
And so, to Tim Walker, his career really started to take off after I’d stopped buying magazines and as such I really don’t know that much about him. I missed the exhibition he had at Somerset House, which really seemed to cement his name.
His style is fantasist, Alice in Wonderland, Gulliver's Travels, fish eye lens type images, which, in this world of billions of daily images, are very memorable, which shows their strength. The first room is a collection of his previous work. (It’s a shame some of them weren’t reproduced larger, but there are a lot to cram in).
Then, each thematic room is based around an object from the V&A’s collection and the subsequent images Walker has produced inspired by and in respect of.
This idea, which they could easily roll out to other creative figures, is a good way of connecting one type of audience - here fashion - into exploring more areas of the museum. Walker’s connection to his items seemed quite lite and it would have been nice to have some more history or emotion to his objects. Let’s be honest, you could probably connect any random idea with something inside the V&A.
Right - The first room - love a Space Odyssey ceiling
Here we have ‘Wonderful Things’ ranging from Aubrey Beardsley's illustrations to some rather wonderful French stain glass windows featuring crowns and maces to Edith Sitwell’s gold shoes. It's quite a mix, but that's part of the fun. As always with the V&A, the staging is great, and it all has the fantasy touches we all know and love these days. I particularly liked the highly lit, Space Odyssey-type rooms and, overall, it was all playful and approachable.
It did make me think about where can fashion photography really go? These images are great and everybody loves them, but, like fashion, it's a continual rehash of previous themes and styles and these images could easily been produced at any time in his 25 year career. It doesn't feel contemporary, and, until fashion changes, fashion photography won't either."
Below - More images from the exhibition