Japanese high-street retailer, Uniqlo has announced it has temporarily closed around 370 of its 750 stores in China, as a result of the coronavirus epidemic.
The coronavirus outbreak has affected a number of fashion brands and retailers so far with stock being stuck in the country and stores needing to be closed temporarily the protect staff and help halt the spread of the virus.
Luxury outerwear brand, Canada Goose revealed the coronavirus outbreak was having a material negative impact on its financial performance for fiscal quarter ending 29 March 2020.
In addition, luxury British house Burberry has shut 24 of its 64 stores in mainland China as fears over a growing coronavirus outbreak continue to grip the country. Global sports giant Nike has also announced the temporary shut down of half of its stores in China.
Mainland China has been a central part of many brands’ growth development with some targeting it after the recent political upheaval in Hong Kong suppressed demand there.