The global pandemic has not only generated what looks like a prolonged economic crisis, but also shifted people’s sentiment toward consumerism. How the fashion industry will be affected in the long term is a difficult question to answer.
Looking at the medium term, there is one topic that can be immediately discussed: In the current context, is it worth thinking about selling the business you built over the last few years or decades?
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In short, the answer is “yes” if you believe you’ve reached the stage where the future of your firm is more likely to benefit from being part of a large group than if it were to remain independent. As you know, a large corporation can easily flex its muscle in such areas as advertising and media buying, customer data and analytics, commercial partnerships, online and brick-and-mortar retail, IT and technology, logistics and finance.