Coronavirus and Streetwear
Coronavirus
Coronavirus is significantly effecting the streetwear culture. It is canceling fashion shows, closing in-store drops and killing the market for streetwear resellers. This virus is extremely dangerous not only to people but to our culture as a whole.
Cancellation of fashion shows
The coronavirus has majorly effected the ability to hav fashion shows during this time. On march 9th, multiple people who attended fashion shows in both Milan and Paris were diagnosed with the coronavirus causing a ripple in the fashion industry. There have been multiple confirmed cancellations such as the cancellation of Max Mara's fashion show in St. Petersburg which was to be held last week. With the continuous rise in the amount of cases of corona, I would not be surprised if there were no more shows until the fall/winter seasons are being debuted in late August.In-Store Closings
Many streetwear brands have been unprecedentedly closing their doors do to this massive outbreak. These stores have put notices in the windows and called for people to please stay indoors at this time. This is extremely responsible on behalf of the streetwear community and should be adapted into all levels of fashion. They are looking to protect their customers first and are making sure the disease is not spreading. By attempting to flatten the curve, the companies are taking more of their product online which could (statistically speaking) make it easier for their online customers to purchase their products.In-Store Streetwear Closings
- Supreme
- Bape
- Noah
- Palace
- Acne
Reselling Market Crash
There has been a lot of talk about the possible market crash occurring in the streetwear reselling business. This has worried many resellers, like myself, who have invested a lot of money into articles of clothing and expensive shoes. Since the outbreak, prices have already dropped 10%. This is largely due to the fear of the coronavirus and what impact it will have on people outside of streetwear. Already people have begun to liquidate their inventory selling it for pennies of the prices we saw last week. It is significantly effecting even the shipping process out of fear that the disease will be transmitted further. This has decreased the amount of people purchasing the items creating a larger supply and lower demand which then significantly drops the prices. It however is a good time for people collecting.
