Brazil has been reportedly affected by the current pandemic, totalling 66,000 confirmed cases and 4,500 deaths from the coronavirus attack, situation that led to major downfalls in economy, dropping sales to 50 percent.
The figure comes from a recent WWD report, where Chief Financial Officer of luxury beachwear brand Luis Lima remarked – “We are expecting 50 percent across the board.
Shares are the same sentiment as analysts’ predictions for retail in general. Lima also pointed out lockdowns in the country’s capital have led to store closures.
“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.”
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