How COVID-19 Depolarized The Global Fashion Events of 2020?

Since February 2020, much of the world has been under some form of quarantine measures, if you're working in the fashion industry or entertainment sector, expect to be hit even harder than the broader world market. The COVID-19 pandemic is responsible for over 18,57,315 cases and almost 1,14,358 deaths worldwide and has shaken the foundation of the global fashion cycle and entertainment industry.
More than one-third of global revenues are projected to evaporate this year as an unprecedented contraction shrinks the fashion world before returning it to growth in 2021. The only Red Carpet where directional fashion culture has a place, The Met Gala, is the latest event to be pushed in response to the coronavirus pandemic. Read on the blog to further know in detail about how the global cancellation of events will impact the fashion world and famous fashion designers.

How Has COVID-19 Cancelled The Major Events Of The Fashion Industry? 

men's fashion weeks[/caption]
As the deadly novel coronavirus continues its spread, the travel bans, lockdowns, social distancing measures adopted by the government around the world have already forced the cancellations of the schools, cruise ships, and religious congregations.
Fear over the spread of the virus after disrupting the above, came for the fashion cycle too, June men's fashion week in Paris, London, Milan and July Haute Couture shows along with the fashion world’s famous weeks in India, China, Japan, South Korea, Russia and Brazil have also been called off. The fashion industry is suffering in huge ratio, looking at the increasing positive cases, the future events had to be postponed or cancelled out altogether. Paris Fashion Week witnessed a noticeable absence of a large number of Asian editors, buyers, and famous fashion designers. Following are some of the major events of the fashion world that got cancelled or postponed-
⁃ Versace decided to postpone its Cruise show, it was supposed to happen on 16th May in the USA.
⁃ Chanel was hosting a Métiersd’Art show in Beijing this May, but it got postponed as the country remains on lockdown.
⁃ Gucci postponed its cruise 2021, which was meant to take place in San Fransisco on May 18.
⁃ Giorgio Armani postponed its November event, which was scheduled to take place in Dubai.
⁃ Prada decided to postpone its upcoming cruise 2021 show which was meant to take place in Japan on May 21.
Lotus Make up India Fashion Week Autumn-Winter 2020[/caption]
⁃ FDCI decided to postpone the Lotus MakeUp India Fashion Week Autumn-Winter 2020, to know about it in detail click on the link- https://bit.ly/2RxMHZ4 
The latest fashion news also whispers about the fashion world's biggest night Met Gala, along with another major event, Cannes Film Festival, and CFDA Fashion Awards being pushed in response to the coronavirus pandemic.

Why Is The Met Gala Such A Big Event For The Fashion World? 

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The first Monday of May 2020 will be just another day, as far as the fashion industry is concerned.
What makes the Met Gala different to all other red-carpet events is you’ll not see Rihanna in a bejewelled Pope-inspired ensemble or Madonna in bondage-inspired Givenchy anywhere else. The event is traditionally held on the first Monday of May, it is not just about looking nice but rather embracing the annual theme. The event adheres to an aesthetic style which lends itself well to the event's characteristic exaggeration. The event is solely about the fashion world, and the representation of a designer’s imagination, the craftsmanship of their respective teams. The event brings the challenge of interpreting the theme, while still maintaining the authenticity of famous fashion designers.
Madonna in bondage-inspired Givenchy Dress for Met Gala- 2019[/caption]
Met Gala is a showcase of fashion in the purest form and celebration of craft, the fashion designers and their teams are invited to unbind their unique ideas on the International platform.
The other unique fact about the event is, it brings together the world’s most celebrated actresses, models and musicians on one single platform. They are encouraged to be their most playful and experimental selves while picking up what to adorn. The fashion world is all about giving, but there are plenty of designers who lack behind in representing their collection on the red carpet because they design more outrageous fashion, but Met Gala is the one night where one can openly celebrate the creative minds behind these pieces and brands. Each year designers take it to the next level, and 2019 delivered a bout of wild, over-the-top red carpet moments.

What Was So Unique About 2019 Met Gala? 

In the year 2019, Met Gala brought a bag full of over-the-top fashion moments. The theme for the 2019 exhibition was “Camp: Notes on Fashion," inspired by Susan Sontag's 1964 essay, which represents camp as "love of the unnatural: of artifice and exaggeration."
It seemed like the theme was created for Lady Gaga, she graced the red carpet wearing 4, Brandon Maxwell looks all at once, Cardi B wore about ten feet of tulle and silk organza of Thom Browne, topped with 30,000 burned and dyed coque feathers—topped off with a Stephen Jones x Thom Browne hat. To know how the Bollywood actress Priyanka Chopra stunned the audience with her looks click on the link- https://bit.ly/2wB9xb7

Popular Looks Of Met Gala-2019[/caption]
The famous fashion designers and brands like Gucci, Ferragamo, Louis Vuitton, and others brought exceptional designs on the red carpet leaving a strong imprint on the audience's mind. But for the year 2020, the outbreak has severely impacted the fashion cycle.
[caption id="attachment_13014" align="alignnone" width="485"] Global Fashion Events From 2017- 2020[/caption]

How Is The Cancellation Going To Affect The Costume Institute's Funding?

[caption id="attachment_12996" align="alignnone" width="800"] The Costume Institute at the  Metropolitan Museum of Art[/caption]
The Costume Institute at the  Metropolitan Museum of Art announced that the annual Met Gala will not take place on May 4.
There was nothing that the audience wasn't expecting as due to travel bans in effect between Europe and the United States, and the government urging citizens to stay at home to break the chain of COVID-19's spread, cancellation of the event seemed like a mandate.
Anna Wintour, chair of the annual gala, confirmed that Met Gala 2020 won’t be happening on its traditional date, first Monday of May. She didn’t mention a confirmed later date, but with many spring events now being postponed until after summer, the second half of the year is supposed to be extremely hectic. The fashion culture, which celebrates the Costume Institute at the Metropolitan Museum of Art and is orchestrated in collaboration with Vogue, is not going to take place on its traditional date this year!
The cancellation is going to cause drastic impacts as The Gala provides the Costume Institute's funding for the year. In 2019, the celebration brought a record-breaking $15 million, and tickets for this year's event were $35,000 per ticket.

How Will The Cancellation Impact The Fashion Designers?

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This is not a normal year for the fashion industry, as the Oscars for fashion, Met Gala has been postponed. For the fashion designers this could be terrible news, and also the event could have cost them immensely. Besides the cost of dressing one or more celebrities in custom, brands spend anywhere from $35,000 for a ticket and $200,000 to $300,000 for a table.
Now as the situation is uncertain, fashion designers are not aware of whether the Met Gala will take place around this year or not, and if not, what are they going to do with the collection which has already been prepared.

Which Other Global Events Got Cancelled?

COVID-19 precautions and response have for weeks been altering the course of the fashion cycle. Apart from Gucci, Versace, Met Gala, the other major events that got cancelled are The 2020 Cannes Film Festival, CFDA Fashion Awards and others.
-The 2020 Cannes Film Festival 
[caption id="attachment_12991" align="alignnone" width="800"] The 2020 Cannes Film Festival[/caption]
Amidst the COVID-19 pandemic, the global entertainment industry is facing billions of dollars in losses as theatres are closed and global events are postponed. The shutdown has left plenty of workers unemployed or to work from home.
The Cannes Film Festival will not take place this May, for the first time in 73 years, due to fears over the COVID-19 coronavirus. The festival was supposed to take place from May 12th to 23rd, in the fashion news it is stated that several options were under consideration, including a delay until the end of June or beginning of July.
As the French government banned public gatherings of more than 1,000 people on March 8, 2020, there was no option left but to quit the idea of the event taking place at the Palais des Festivals, a multi-story building that houses several theatres.
France alone has witnessed 1,32,591 coronavirus positive cases and around 14,393 deaths, which further left the industry to cancel all the events including MIPTV, an international TV market event that takes place at the Palais in late March and early April.
-The annual CFDA Awards
[caption id="attachment_12990" align="alignnone" width="700"] The annual CFDA Awards[/caption]
The first Monday in June is mostly a celebratory one for the fashion world, with models, retailers, famous fashion designers and media for the annual CFDA Awards. A few days ago, the CFDA sent out an email to announce the ceremony’s new venue, the New York Public Library, with a confirmed date. But the CFDA recently announced that its night of celebration could be cancelled as a result of coronavirus precautions.

How Has The Cancellation Impacted The Fashion Industry And Designers? 

[caption id="attachment_13002" align="alignnone" width="640"] Fashion Industry[/caption]
The famous fashion designers are struggling during the extended periods of quarantine around the world and the thought keeps knocking their heads that what if the year goes by without fashion shows and events. The cancellation of global events has led the fashion industry into a crisis, with almost all brands and designers battling lacklustre consumer confidence, foregone revenues and stores on lockdown. Fashion brands mainly those relying on longer lead teams and inflexible supply chains are desperately vulnerable.
Due to the cancellation of global events fashion industry may face a harder time, as not showcasing the collection will dive the market down, and it is speculated that more than 70% of European and US consumers are expecting to cut back spending on apparels.

IKF Desk (Conclusion) 

[caption id="attachment_13001" align="alignnone" width="800"] Fashion Industry[/caption]
According to speculated data, two to three months lockdown will cause financial distress for 80% of European and North American fashion businesses, it will be the hardest hit since the global financial crisis of 2008. The economic recovery will be gradual, forcing fashion designers to ramp up resilience planning. When do you think the global events will take place finally?
Use the comment function on our website and do let us know your views about the cancellation of global events, and stay tuned for the latest fashion and beauty updates.

Source: https://www.iknockfashion.com/how-covid-19-depolarized-the-global-fashion-events-of-2020/