Big brands and small businesses are taking the opportunity to enter a new world of fashion... making masks.
Face masks, the new must-have fashion item, have gone from medical gear to small accessory to big business.
Prada, Louis Vuitton, and Dior are sewing them exclusively for medical workers. That's giving hundreds of younger, mid-market brands like Madewell and Rent the Runway the opportunity to pounce.
For the big players, it's not all about the bottom line. Listenfirst media tells us:
"…for many top fashion brands, the need around face masks represents more of an opportunity to generate goodwill as opposed to a huge new revenue stream."
Still, small and medium size businesses are jumping at the opportunity. Trevor George predicts that mask sales will rival apparel sales over the next 18 months. His company, Trevco, is said to be the largest manufacturer of licensed apparel online.
He sells millions of t-shirts embossed with comic book heroes like Superman every year. He's now selling twice as many masks as t-shirts.
Gina Quatrine in Los Angeles is repurposing Hermes scarves and selling them on Etsy.com, and her business is booming. Quatrine says, "Seven weeks I've been doing it, and I'm almost at $30,000 dollars.Tthe face mask is something that really is I think is gonna become almost a fashion trend, in a way."
That's good news, particularly for luxury goods makers, whose revenues are expected to decline by up to 39% in 2020.
Masks costing anywhere from $50 to $500 dollars won't make up for that, but it will help.