Amidst a growing rise of coronavirus infections in China, Shanghai Fashion Week has reportedly postponed its March event to mid April. Organisers have yet to make a formal announcement via its official website and social channels, however multiple media reports suggest brands are pulling out of trade fair events with current travel restrictions and rising Covid cases.
Domestic Chinese New Year events are also on a low burner, much of which will be aired digitally. The new year festival is a key time in the Chinese calendar for citizens to travel abroad and shop. This year, however, will see little international movement or tourism as borders remain closed.
Last month UBS analysts warned of a potential drop in spending in China: “Should the country fail to contain the spread of the virus, new lockdowns cannot be ruled out, which could have a far bigger impact on sales than travel restrictions alone,” it said in a trading note.