How COVID-19 is Impacting THE GUESTLIST
HOW Covid-19 IS IMPACTING
THE GUESTLIST
As COVID-19 spreads, many fashion and beauty-orientated businesses have had to shut down production, stores, and offices in favor of social-distancing precautions. However, according to Simeon Siegel, managing director and senior analyst at BMO Capital to Business of Fashion, stated, "Companies need to operate as if normalcy will return, otherwise they are guaranteeing it won't."
With digital fixes like teleconferencing and remote-working design tools, companies can change their business strategy to adjust to these difficult times. But as in-person communication continues to slow down, companies that are able to adapt quickly and innovate with digital solutions are on the rise.
At this time, THE GUESTLIST’S main priorities are to:
1. Maintain the salaries of employees
2. Continue with production to keep up with client’s orders
3. Take the best possible actions to ensure the health & financial safety of all involved
As COVID-19 spreads, many fashion and beauty-orientated businesses have had to shut down production, stores, and offices in favor of social-distancing precautions. However, according to Simeon Siegel, managing director and senior analyst at BMO Capital to Business of Fashion, stated, "Companies need to operate as if normalcy will return, otherwise they are guaranteeing it won't."
With digital fixes like teleconferencing and remote-working design tools, companies can change their business strategy to adjust to these difficult times. But as in-person communication continues to slow down, companies that are able to adapt quickly and innovate with digital solutions are on the rise.
Within our policies of sustainability, circularity, and transparency, CEO of THE GUESTLIST, Anton Schumann, has made the decision to continue with production at Mühlhausen, Thuringia.
To minimize the risk factors involved in this production, a system of time-slots for each employee to work at a certain period has been implemented - meaning that appropriate social distancing is enforced.
Sanitization measures have been put into place, masks and protective wear is being worn, and since each piece is created on a made-to-order basis, the team of 29 is able to continue working. With a short supply-chain, items that are made in Germany, and the majority of business processes taking place online, THE GUESTLIST has found itself in a position that is not only ahead of its time, but will also be able to weather the storm through its innovative and sustainable approach.
“In such times, the business models of the global fashion industry generally change abruptly,” says CEO of THE GUESTLIST, Anton Schumann
“In such times, the business models of the global fashion industry generally change abruptly,” says CEO of THE GUESTLIST, Anton Schumann. “The retail industry will face even more challenges in the coming months due to shutdowns. Customers will search the web directly for brands and manufacturers that can, and will, satisfy their needs. THE GUESTLIST will, therefore, continue to focus on our own business model."
"This involves direct, online presence through events/content in order to provide our global clientele with a customer-experience that is true to our ethos. We create, manufacture and deliver our products in slow and sustainable ways - and have done so since we began - with our focus on high standards of quality and integrity. As the global crisis continues to hit fast-fashion, and provide opportunities for new and efficient business models, customers are starting to look for a valuable product that will accompany them for years.”
“Our strengths address these modern-day needs through our story and the people behind it"
“Our strengths address these modern-day needs through our story and the people behind it. We embrace the spirit of creativity within the knitting industry - translating that into unforgettable designs and products. We combine creative minds and the textile industry with an innovative business model to reach out to the global customer as much as possible. Our approach places the utmost importance on sustainability - so much so that we only produce on a made-to-order basis. This means that there is no wastage on stock, and pieces are created specifically for our clients.”
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