Modish Issue #4
Launching 5/10/22, the next issue of Modish focuses on the end of FY 2021, the beginning of FY 2022, and the shifting balance of power in an increasingly tumultuous world.
In late 2021 and into early 2022, it finally seemed that the world was returning to normal. Within the fashion landscape, consumer confidence began to rebound despite supply chain woes and inflation concerns, fashion shows returned to their beloved in-person format, and pandemic measures worldwide swiftly evaporated as a result of increasing vaccination and lower transmission rates. It seemed that 2022 would finally be the year the world return to normal, or at least a new normal.
However, the excitement around a return to normalcy was short-lived, as Vladimir Putin's February invasion of Ukraine shocked the world, upending global supply chains, causing inflation to skyrocket to levels not seen in a decade, and creating one of the worst humanitarian crises in recent history. Now, as Putin's ruthless campaign continues, the world remains in a state of disarray, with world leaders weighing imposing further sanctions and consumers reeling from higher prices amid the constant threat of war.
So, how will this post-pandemic, wartime economy affect the fashion industry? In this issue, I will address financial results from 2H FY 2021 and Q1 FY 2022, discuss the future of fashion in the Metaverse, the move toward experiential retail in an increasingly digital world, the effect of sanctions, inflation, and supply chain woes on the fashion industry at large, and the general threat that a shifting balance of power poses not just to fashion, but to the world economy as a whole.