In recent times, the fashion industry has proved to be an effective instrument for global development, with consistent growth and boom of online shopping, boasting of generating 2.5 trillion dollars in global annual reserves.

Until the start of the pandemic, the sales forecast for 2020 looked promising. However, the fashion industry owing to its ‘non-essential’, luxurious and discretionary nature, is more vulnerable and is likely to bear a more grave and severe brunt.

But stakeholders of the sector are staying positive and brainstorming to find new tools and new strategies across the value chain to future-proof their commercial models in order to cope with new restrictions, mitigate the damaging impacts and adapt to economic and consumer shifts to keep their businesses afloat. From wardrobe changes, handling their inventory to online fashion, the industry is ready to take on the challenges hurled by the pandemic.

CII-IWN organized a Session on Walking down the Ramp: Fashion for a New World in August to focus on engaging and deliberating upon the related concerns of Luxury Fashion: The challenges of a New World; Sustainable Fashion: Recalibrating livelihood in the fashion value chain and Is online shopping the New Normal.

The session was designed to examine the different elements of the two sections of the fashion industry and equate a holistic overview to prioritize and address issues within the purview of the fashion industry to chart out a roadmap ahead of the pandemic.