Usual is over: business model evolution in fashion retail after Covid-19

Abstract

The world has changed. And this is the best time to make it change for the better. Covid had an enormous consequences in businesses all over the world, all industries included. This paper analyzes the impacts of the Covid-19 disruption, with a general look at the various impacts on the business world, and then focusing on the new business models trends that this crisis has brought to life. Truth is that in many Covid only accelerated some already existing trends, and this is evident in the fashion world, that will be discussed with a deeper focus in chapter 3. Cash liquidity, circular economy, digitization are the ones that emerge the most among the others, and this thesis aims to analyze them in detail, also thanks to interviews to people and managers working in the fashion industry. With them, the focus will be the changes that covid has brought to the company and the world of fashion in general and their personal point of view on what Covid made better and worst. Of course, Covid had major negative impacts on people’s lives, at home and at work. People lost their jobs, people lost their beloved ones, people had some psychological issues, but the aim of this thesis is to convey that in crisis there is opportunity, and this is the best time for companies to come up with new ideas, to adjust, to reinvent.