RED BANK, N.J. — April 30, 2020 — To say these are unprecedented times is certainly an understatement. The truth is a worldwide pandemic is leading to worldwide economic stagnation, and thus creating unique challenges for anyone directly or indirectly working within the performance textile industry. And as closures, furloughs, and stay-at-home orders remain in place, businesses such as ours, and yours, will feel the pinch. Simply put, COVID-19 is creating a financial strain for mills, suppliers, and apparel brands.
Of course, the health and safety of everyone, no matter where you’re located on the globe, remains top of mind. However, as the coronavirus forces us to embrace new norms and brace for inevitable complexities, we mustn’t let our business goals fall by the wayside.
No matter where you are in the supply chain, you will — if not already — feel the effects. We wish we could tell you we had a magic formula to cure the current ills of the world, but we don’t. None of us were equipped with a pandemic playbook, so we must learn as we go while navigating this storm together. What we can tell you is, as an industry, we will persevere. The performance textile industry is, and has always been, resilient. That’s why Concept III also sees some semblance of a silver lining around all this darkness. Here are the positives we believe will help this industry succeed in these trying times:
- Consumers still want quality apparel. With value being paramount, consumers will ultimately choose performance apparel over fashion brands.
- Our industry focuses on utilitarian products that service real needs. For instance, workwear and durable apparel are still in demand.
- Consumers still want to get outside, but they’ll now choose real nature, or sparsely populated areas instead of congested urban settings. Rather than wearing sneakers, jeans, or business-casual attire, they’ll recognize the value and need for the appropriate outdoor performance products.
- If there’s a “new normal” on the horizon, then the same old, same old will no longer work. It’s time to unleash the creativity we’ve all been holding in. Because the rules and strategies we all followed just a few short months ago have been upended, we can take liberties and inject fresh, new ideas into product leadership.
In the five decades Concept III has been around, we’ve seen good times and bad. And just like you, we’re still standing. That’s because we’ve always stood together. Performance textiles is a global industry, with people scattered across continents, yet we work as one. We’re proud to say this is an industry made up of the world’s toughest, brightest, and most ingenious people. In short, Concept III knows if we continue to stand together, we can weather this storm, and we’ll come out of it with a brighter outlook for the future.
Posted April 30, 2020
Source: Concept III