10 May 2020
Since the outbreak of COVID-19, America is a country where many people are infected by the coronavirus. It is a great challenge for America including the shortage of medical supplies and economic recession. On May 4th, the famous clothing brand, J. Crew applied for the bankrupt protection, which became the first retail brand to announce bankrupt since the outbreak of coronavirus. It is reported that the income of clothing production including clothing display racks decrease about 52 percent in America.
Maybe you are still unfamiliar with the brand of J. Crew. Firstly, why not know more about it? J. Crew was founded in 1983 in New York. It is a brand which express the natural and simple ideas to consumers. What’s more, they produce and design the clothes with the nice material and cost you not too much. Consumers can enjoy the nice price and owe the perfect design of the clothes. Michele Obama, the First Lady before, loved this clothing brand very much. She had ever chosen a suit of clothes of J. Crew on the TV program. Certainly, from then on, J. Crew was warmly welcomed by many people. Americans are even crazy about this brand. There is also one thing that should needed to be mentioned that on the day when Obama announced to take office, Michelle Obama wore the green gloves and her two daughters wore the pink and blue coats which are all from the brand of J. Crew. It can be said that they really love this brand a lot. No wonder consumers are crazy about that. Whenever there are some new clothes introduced, they are quickly bought by consumers. Thus, as we can see, such a successful production before also hard to avoid the disaster. Nobody can imagine that J. Crew was announced to be bankrupt recently. But it just happened.
According to the CNBC, J. Crew is just one of the names on many retail watcher bankruptcy warning lists. The direct factor is the COVID-19. As it is shown that there are more than 1milion people infected by the coronavirus. The number is the biggest all over the world. People should stay at home. So many kinds of stores are also needed to be closed for a time. While for the supermarket, people are hurried to buy the merchants for the later isolated life. Especially for the meat, they are short for supply. Thus, for the clothing market, it is also the big challenge. People’s need for new clothes decrease, which directly affect the sales volume for many clothing stores. Before, it is reported that J. Crew had ever try to save the company depending on the list of Madewell. As a result, the plan didn’t work. In fact, J. Crew is not the only retailer which is in trouble. Neiman Marcus, a public limited company in America, is ready to ask for bankrupt protection. Such examples can be listed easily during these special times. Many people may think it is a pity that the company is going to come to an end. It is what the current society decides. We have to move on, right?
Well, to meet this problem, we have to hold the positive attitude towards life. Nothing can defeat us unless ourselves. According to the Internet social platform, it shows that most of the young people are changing their minds compared with the coronavirus before and after. They have stronger power to stand for the pressure no matter from study or from work. What’s more, the digital style of working is widely used by them. They think that it is convenient for them to work. Also, they have stronger mind to keep healthy. Exercising may become one of the habits in their life. So, as we can see, every coin has two sides. Taking the coronavirus for example, the negative effect may be seen obviously. But we can’t ignore the positive effect. After this challenge, people will become more stronger to meet all the challenges and they have enough confidence towards life. Meanwhile, the failure maybe the good experience for the similar production. Just like many clothing stores, they are difficult to maintain the operation during the outbreak of coronavirus. However, some of them start to change their minds and turn to produce the protective suits or surgical masks which are widely used in medicine. If only you can handle and maintain the operation, you can then turn to produce the clothes like before. That is also another good idea.
Talking about the clothing market, as the J. Crew was announced to be bankrupt, some other production may also be influenced in America. Generally speaking, if you want to maintain the operation well, some actions should be taken definitely. Just like in many countries in many cities, the government offer the favorable policy for the merchants. Such as the tax or rent reduction and exemption, fund subsidy and many more. This is the good news for many merchants and they should catch this opportunity to work hard on the product evolution, store display. Only when you are strong enough can you have the further development. You were strong before doesn’t meant that you will be strong forever. In fact, not only for the brand of J. Crew is in trouble, some other brands also share the same destiny. If you have any need for the display tools, such as the clothing display racks or the display tables, welcome to contact us. You know, consumers are your lucky god forever. Thus, try to attract their attention and introduce the clothes in your store to them.
From what have been discussed above, under the outbreak of COVID-19, the famous clothing brand in America, J. Crew had to announce for bankrupt protection. It is the choice for stop the much loss. Different people may have different ideas about that. However, it is the choice of age. We have to move on and try to meet the new challenges in the future. In other words, it is also the alarm for some other similar companies. They have to learn something from this.
Keywords: clothing display racks
Originally published 10 May 2020, updated 10 May 2020.