The apparel industry comprises sales of apparel by entities (organizations and sole traders) that manufacture apparel. The three main categories of apparel that include women’s wear, men’s wear, and kid’s wear. Fashion shows across the region such as in Los Angeles and New York have made sure to garnish men’s fashion with apt attention and publicity. In addition, fashion magazines such as GQ Magazine and D'Marge Magazine are significantly contributing to the growth of the men’s apparel industry. Additionally, the women’s wear market is influenced by continuous innovation in clothing trends, magazines dedicated to fashion statements, and celebrity endorsements. Apart from this, social media and celebrities are the major influencers of the apparel industry.

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The North American apparel industry market generated significant value in 2018 with a remarkable CAGR for the last few years. North America, specifically the US is home to some of the major designer labels of the globe such as Ralph Lauren, Michael Kors, and Calvin Klein. Historically, sever4al fashion trends have been led by the US such as the emergence of denim jeans by Levi Strauss, a San Francisco-based German merchant in the 1800s. In addition, current trends such as athleisure and sportswear were popularized by Nike, an American company. In addition, growth in the e-commerce industry and supportive government regulations on the manufacturing of apparel and clothing drove the North American apparel industry. However, the recent outbreak of COVID-19 had a dual impact on the North American apparel industry and propelled major brands and design houses to close their doors and postpone upcoming runway shows.

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Some of the major players covered in the North American apparel industry include Ralph Lauren Corp., Nike Inc., VF Corp., PVH Corp., and The TJX Companies Inc., among others. The outbreak of the pandemic coronavirus has significantly affected the sales of these players and these players are compelled to shut their stores due to lockdown. For instance, effective on March 19, The TJX Companies Inc. closed all of its stores in the North American countries, Australia, and Europe for two weeks. In addition, the company has announced to close its online business, distribution centers, and offices. Moreover, after temporarily closing down its corporate headquarters in Beaverton, Oregon, Nike has now closed many of its retail stores across the US due to coronavirus outbreak. The retail giant announced to shutter all of its stores in the US, Canada, Australia, Western Europe, and New Zealand for limiting the spread of coronavirus. These stores will be closed through March 27.

Impact of COVID-19 on major economies

United States
Canada

Companies Studied

Adidas AG
Fila Holdings Corp.
Hanesbrands Inc.
NIKE, Inc.
Puma SE
PVH Corp.
Ralph Lauren Corp.
The TJX Companies, Inc.
Under Armour, Inc.
VF Corp.

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