COVID-19 Impact on Fashion Indicated by Bangladesh Numbers

Bangladesh is the worlds second largest exporter of clothing after China. In an interview with CNBC Bangladesh’s Commerce minster Tipu Munshi, it was reveled there have already been $2.6 Bn worth of orders cancelled with further cancellations expected.

While this is an issue for the Bangladesh economy, garments are a major source of export for the country, it is also an indication of the global slow down in the sector.

Yesterday saw Next, a major fashion chain in the UK, closing it’s total operations, the day before saw ASOS.com pausing supplies to try and manage the uncertainty in demand. These are just two examples of the impact of the COVID-19 pandemic on fashion retail.

Fashion is one of the top sectors selling internationally and this is another indication that cross border will be hit quite hard during these coming weeks and months.

About Mark Ellis

Mark is the VP for Growth and Partnerships at Webinterpret, a leading Cross Border Technology company. Before that Mark was leading the operations for eBay's European cross border program. He has over 20 years of eCommerce industry experience, guiding and delivering strategic change in retailers, working with companies such as Dyson, Regatta, Boots and Arcadia Group, leading multi-million dollar programs for industry giants like Dunnhumby and working with small businesses delivering innovative retail solutions.

Check Also

H&M Group Expands Brands Online to 9 New Markets

Throughout May H&M Group are expanding some of their brands online into 9 new markets, …

Leave a Reply

Your email address will not be published. Required fields are marked *