Constant markdowns at retail have plagued the fashion industry for years as delivery schedules went ... [+] unaligned with seasons BLOOMBERG NEWSCrisis forces change. The Council of Fashion Designers of America (CFDA) and the British Fashion Council (BFC) released a statement on Thursday that renewed their call for change. The fashion industry always comes together during times of crisis, and we will get through this stronger than before,” said Steven Kolb, president of the CFDA,The organizations also encouraged the industry to slow down. The plan points out that ironically, fashion shows are 'outmoded' and 'labels should be free to reimagine' collection presentations to target the consumer better. The problem of the industry discounting is faced head-on with this group suggesting fashion retailers stop the discounting compulsion by holding end-of-season markdowns later and stopping mid-season sales.

Source: Forbes May 21, 2020 16:18 UTC