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THE EFFECTS OF ECONOMIC CRISIS ON THE FASHION INDUSTRY

Over the last year, not only has the UK but the whole world has faced very unprecedented times, which included every aspect of normal life coming to a standstill. Now two years on we are all feeling the effects of the Covid-19 Pandemic. As the world is starting to return to normal life, aspects of it are becoming more difficult than we anticipated and many industries have taken a hit. One being the fashion industry and its creative spaces.



It is argued that around 35% of young and upcoming designers will be unable to start their own business due to the current circumstances, these circumstances involve a lot of issues around financial problems. This is significant as it means that a lot of talented individuals are currently missing out on amazing opportunities that could possibly give them the stepping stone into the industry. Opportunities such as fashion shows and other events. However, designers are not the only ones who are having this problem, other creators such as seamstresses, makeup artists and stylists are also in the same boat. CEO of DAZED media, Jefferson Hack argues that for these individuals this is a total “economic crisis”.


This is very true. This is an economic crisis and it is affecting a large number of the younger generation. A generation with such talent, innovation and a successful future. In order for the fashion industry to flourish the way we need it to and the way we have seen it before, we need these new creators and their ideas. Without them the industry we know and love today could possibly die out and lose its importance on our society.


It's important that things are put in place in order to help boost the economy of young and upcoming creators. Whether it's through networking events, internships and other opportunities. These opportunities will hopefully help them to progress into the industry. We as creatives must do our best to use any tools that are laid out in front of us in order to keep the industry original and alive. We have the power to do just that.


Here at Undiscovered LDN we strive to create opportunities for upcoming creators and we will continue to do this until we have helped as many creators as possible. And help those who may have been turned away from other opportunities.


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