Anna Wintour, longtime editor of Vogue, said Wednesday that the coronavirus pandemic was “catastrophic” for the fashion industry, devastating new designers and major retailers.
“I think it really gives the industry a break,” Wintour told CNBC’s “Closing Bell.” “I think everyone is rethinking what the fashion industry is, what it means, what it should be.”
Wintour, who is also the American artistic director of Conde Nast, cited recent bankruptcy applications by Neiman Marcus and J.C. Penney, who entered the public health crisis on an uncertain financial basis.
“Small businesses, whether you call them luxury or affordable, or whatever, are just struggling because they have no source of income,”
She said that’s why Vogue and the Council of Fashion Designers of America are partnering with Amazon to launch a digital showcase this month that includes the work of small and medium-sized designers. Vogue and the CFDA in April began fundraising efforts called the “Common Thread,” which gives grants to those in fashion who are struggling during the pandemic.
Anna Wintour at Milan Fashion Week, Milan (Italy), February 22, 2020
Marco Piracini Archive of Marco Piracini Mondadori Portfolio via Getty Images
“It was an opportunity for the industry … to help these people and make them realize that there really is a future for young creative talent and that they won’t have to close a store,” said Wintour, who noted a 500,000 donation. dollars for “Common thread”.
Wintour, who has run the iconic Vogue since 1988, said she believes the Covid-19 crisis will change the way people approach fashion in the future, with a view to sustainability and “the value of what they buy, regardless of the price”.
“And I think it’s an opportunity for everyone to slow down, produce less and really make the world fall in love with the creativity and passion of fashion,” Wintour said. “And maybe have a little less focus on things that move so fast, and always focus on what’s new.”