The earthquake disasters in Japan caused a panic, which lead to the share price of the transatlantic high-grade luxury brand in the first Monday after the earthquake fell. Japanese fashion week announced to cancel the “2011 Autumn-Winter Tokyo Fashion Week” scheduled to be held next week, which is the first time in history.
After the nuclear power station was damaged by earthquake, Japanese officials immediately took measures to shut damaged nuclear power units to prevent more explosions. But nuclear leakage was far more than threats of the original quake and tsunami, prompted people partly lived in Tokyo to flee, which makes global markets talking about.
If consumers produce anxiety and panic, it will undoubtedly hit their consumer confidence. Chief economist of market research enterprise IHS Company analyzes: the Japanese earthquake brings radioactive leak, may also worry about the market bringing out the global world out of control. Consumers even some enterprise faith will be hit, the sale or rental and other commercial activities will be postponed.
Fashionable circles also support Japan
The global fashion industry has provided charity aid for Japanese victims. Luxury leather and handbags manufacturers CoachInc Company in Tuesday promised to donate 4 billion yen to Japanese Red Cross; American Cole department stores also donated $250,000 to Japanese Red Cross. American singer Lady Gaga also sold white ringed hand printed with “we pray for Japan” personally designed by her in her official website for Japanese relief, and each was $5, in a move within 48 hours she had raised $250,000 to the donation.
As for the development of nuclear leakage, Tokyo residents still hold the conservative attitude; Fashion and retail industries to the crisis also make proper measures. The organizers of Japanese fashion weeks had announced on March 15 to cancel the “2011 Autumn-Winter Tokyo Fashion Week” scheduled to be held next week. Exhibition organizers say they will try to help Japanese fashion designer on various channels to exhibit their design. According to reports, the fashion design will be put online to be exhibited. However, before organizers published this statement, partly brands also had cancelled or indefinitely delayed their exhibition in Japan.