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Coronavirus Impact on Footwear Industry, COVID-19 Outbreaks

Coronavirus Impact on Footwear Industry in India, creating economic downfall. Millions of laborers jobs are directly affected by COVID-19<br><br>https://avsgroup.in/coronavirus-impact-on-the-footwear-industry-covid-19-outbreaks/

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Coronavirus Impact on Footwear Industry, COVID-19 Outbreaks

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  1. AVS GROUP Coronavirus Impact on Footwear Industry, COVID-19 Outbreaks www.avsgroup.in

  2. The outrageous Corona outbreak has tumbled the global market and affected the economy of many countries worldwide. With the closure of educational institutes, malls, theatres, and corporate offices, the customer’s buying behaviors have been changed. As a result, it has made companies restructure their business models. The social distancing has changed the business trends vastly and will have a long-term effect. The footwear industry is too not left untouched with the coronavirus impact on footwear industries.

  3. CORONAVIRUS IMPACT ON FOOTWEAR INDUSTRY IN INDIA As major footwear stores have been shut for almost 2 months, it has drastically impacted the footwear sales. Many brands have postponed the launch of new products plus collections and are waiting for the situation to get normal Huge cancellations saw the industry lose around $1 billion worth of export orders. -(Aqeel Ahmed, chairman, Council For Leather Export) Given the closure of retail outlets and restriction of delivery of non- essential items in certain areas, the revenues for FY2021 are expected to drop by 10-15 percent as compared to FY2020, with a larger impact on profitability”- stated by ICRA.

  4. As the manufacturing units in China have been closed and now with many Indian companies deciding to boycott China products, it is resulting in huge loss to the Indian shoemakers and suppliers. The country’s footwear manufacturers highly rely on China for importing components like: nsoles Outsoles Laces Shoe lining Shank board Buckles Foam Packing material Ornaments Visit us at www.avsgroup.in

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