How the coronavirus is affecting the fashion industry

The expanding shadow of a global epidemic caused by the coronavirus outbreak that originated in Wuhan, China, is seeing multiple ramifications beyond the actual health threat. China and the neighbouring countries constitute the largest expansion market for luxury brands worldwide. While from LVMH to Tencent, the fashion industry has donated millions of dollars to date to fight the coronavirus threat in APAC, as a precaution, stores have been temporarily closed and industry fairs in China postponed or cancelled, while those outside of China miss the presence of their Chinese visitors. FashionUnited has put together the repercussions so far for the fashion and luxury industry caused by the coronavirus outbreak.