Fashion Brands Closing Their Stores in 2020

Finance

The pandemic has forced the hands of many people, including the fashion industry. As people give up shopping from retail stores or even ordering products online, some brands had to file for bankruptcy while others had to close their store for the far future permanently. Let’s look at some of these brands that had to close their stores for the pandemic.

Esprit

Except for their Chinese stores, Esprit closed all their Asian stores in Malaysia, Taiwan, Macau, Hong Kong, and Singapore by the end of June. This totaled to 56 stores closing. The stores have been operating poorly for a year, and the pandemic cemented its end.

Cath Kidston

The fashion and homeware brand Cath Kidston had to shut down 60 of its stores in the UK, leading to the loss of jobs of over 900 people at the very least. The brand promised its Asian stores would work as usual, but the Japan branch filed for bankruptcy with a debt of 6.5 billion yen not long after. They’re planning to turn into an online brand for the time being.

Sies Marjan

The blow from the pandemic led the luxury brand Sies Marjan to close for good after spending a beautiful four years in the business. The founder expressed their run as a dream turned into reality.

Oasis and Warehouse

Oasis and Warehouse had to close all their stores permanently, resulting in the loss of jobs of over 1800 people. However, in an unexpected turn of events, Boohoo brought their online business and made them a part of their platform.

Matter

Matter, which is a sustainable fashion brand based in Singapore,

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