In what some fashion veterans are calling the worst trading conditions in 25 years, more brands are closing amid falling spending and rampant discounting, DailyGazette reported.
The Instagram posts often begin much the same. “To our most valued customers, after taking some time to reflect on how far we have come in our brand journey, as well as the current conditions affecting the fashion industry, we have made the heartbreaking decision to close our business.”
Yet for each Australian fashion brand that has shuttered in 2024 – first a trickle, now a wave – the path to closure has its own set of circumstances.
“We have too many brands, too many restaurants, too many choices, and we’re all cannibalising each other,” says Kerry Pietrobon, founder of size-inclusive brand Harlow. “There had to be a shift at some point, but it came bigger, harder and stronger than anyone knew.” /BGNES