Local consultancy Fung Business Intelligence estimated that consumption will return to pre-crisis levels in two or three months, according to a report published on March 18, with an especially rapid recovery in clothing and cosmetics.
The IMF expects a “partial” recovery in 2021. The cumulative loss to global GDP over 2020 and 2021 could be around 9 trillion dollars.
Pablo Isla, chairman of the owner of Zara, has announced that it will continue to pay employees without government assistance.
All economic news of the key fashion companies worldwide.