- The luxury fashion industry continues to suffer amid the COVID-19 pandemic.
- As Business Insider previously reported, from January 17 to March 11, the MSCI Europe Textiles, Apparel & Luxury Goods Index fell 23%, seeing $152 billion in market value erased.
- Many fashion houses have already postponed or canceled their shows.
- US-based fashion editors and reporters are also dealing with the outbreak, and many are being told to self-quarantine - Condé Nast, the owner of Vogue, GQ, and Vanity Fair, reported its first suspected case of the virus on Wednesday.
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February's fashion month went on with some hesitation, but now, the industry is taking more precautions when it comes to upcoming cruise and resort shows.
As previously reported by Business Insider, many US-based fashion editors, influencers, models, and others who traveled to Milan for fashion week returned to find memos from their employers requesting they self-quarantine. On Wednesday, Condé Nast CEO Roger Lynch advised those who can work from home to do so until at least the end of March, as a staffer in the company's Style division is suspected of having COVID-19.
Now, as the virus continues to spread and Italy continues its nationwide lockdown, fashion houses are canceling or postponing upcoming shows. Giorgio Armani postponed its April cruise show to November. Versace and Gucci each canceled US shows planned for May, while Prada has canceled its May resort show, which was set to take place in Japan, Business Insider previously reported.
In addition to fashion shows, numerous fashion weeks have also been canceled, including those in Shanghai, Melbourne, Beijing, Seoul, and Tokyo.
Here is a list of all the major fashion houses that have canceled or postponed their shows so far.