Kate Chang ● Apr 5 ● 6 min read
AN OPEN LETTER
To all our partner brands, and also those who are in discussion with us, and those interested and related parties:
At the present moment, we see that the center of this ongoing global health crisis, the CO-VID19 crisis, has taken root in Europe.
I have been going back and forth, and hesitating for some time, as to whether or not to write a letter to all of our existing partner designers, and those who we are still communicating with but haven’t confirmed partnerships yet, to express my sympathy and condolences during this period. The reason for this is that many designers that we have already partnered up with, have written to me and explained that they either lost their friends, or some in their family to this illness, or they are in the process of battling it right now. I do not want to bother or infringe upon these individuals, so I decided after much consideration, to use this format of an open letter, to express on behalf of myself, our company and team members, to our partner designers in Europe, and also our partner factories, too, and any others who may be affected, my inner condolences toward the pain and suffering this disease has wrought, for all.
Despite being now in this very dark moment, we still believe, that this darkness will soon move into the light. The darker the moment, the closer we are to daybreak. We see the numbers of increased infections and even deaths starting to stabilize, and even though the coronavirus continues to grow and mutate, we are seeing a shred of light in the far distance, just like the drip of water at the end of a long pipe.
Humanity, and those affected in Europe, will win this fight.
At the same time, I want to give an update on China’s current situation.
China’s economy, at this moment, has already started its recovery, and even though it’s not a very speedy recovery, in the big shopping malls now, you start to see people gathering again. They have emerged from the quarantine. The country’s PMI, the Purchasing Manager’s Index, has also most recently hit a 52 reading, up from 30 previously, which indicates growth and expansion. The China of today is the Europe of tomorrow. In this difficult moment, what we need is confidence and encouragement, and our persistent conviction and faith.
China’s consumer market is now seeing a huge rush in “revenge spending”. This refers to the spending that is now bursting out, coming back again with a vengeance, since the quarantine kept consumers artificially at bay, they could not consume, and so now, released, they are ravenously shopping, holding pearl milk tea in one hand, and browsing the collections in the malls, strolling with friends. A sight that hasn’t been seen in too long.
I trust, that China is now walking the road toward full recovery.
A huge consumer market like this will inevitably recover its explosive growth in the not so distant future. Perhaps a lot of economists will raise up a lot of questions, but as a person with my many years of experience working in the venture capital industry in Asia, especially China, I can very confidently say, that my observations are correct, and it is also what you will all see manifest in the future.
At the same time, I believe and trust that you will also see, that this recovery in the Chinese consumer market, will provide much-needed support and hope, for the European economy, which has been battered by this coronavirus’s economic impact.
No matter if it is from food products, and fashion of Europe, or its culture and tourism resources, we will see even more Chinese people, enjoying everything in Europe; even though in the course of fighting this coronavirus, each country will have its complaints amongst each other, or quarrels, and sometimes may even have conflicting thoughts and opinions, it is the forward trend of humanity to work together, to cooperate, not air grievances and have confrontations. Because cooperation has given us hope toward the future, and also profit. This positive, and cooperative attitude, will drown out any unpleasant situations of the past. Many partner designers and brands have written to me, and lamented, that the situation in Europe is very dire, that it is like a nightmare. They ask me, in their letters, for some semblance of hope, of good news.
This is my motivation for writing this letter today; China is now in recovery, and in the future, Europe will recover, as well.
One partner designer of ours, an experienced craftsman, I think of him as a true artist; his shoes are beautifully crafted and worn by very influential and important people in the world. We have confirmed cooperation with this designer very early on in our project, and he is now awaiting the registration status of his trademark as well. In a letter to me, he wrote (translated): “Here in ITALY there are small improvements but the situation is still very bad. We hope that when all this is over, we will see life differently. Regarding our work, I can't wait to start with even greater enthusiasm. I am ready to start. VIVA LA VITA!!”. After reading his letter, I was truly moved; this is the Italian, and European spirit after all. After the coronavirus subsides, our team, and those brands and designers partnered with us, we will even more so, work hard to and put forth our mutual effort. We will enjoy our work, and enjoy our success.
We will definitely have the determination, ability, and conviction, to come out victorious and have the courage to introduce each of our partner designers to China, Asia, and in some corners of this market, start to establish their fan base.
Our goal is to let all of the people in our part of the world know of our partner brands, experience their charm, even though they may not be Louis Vuitton or Prada, or any of those big luxury brands, but they can express their fashion and design principles, that unique perspective, and in even more broad scope, decorate the daily lives of even more people.
We also plan, in the future, to create a clothing recycling system; so that those consumers who have purchased from our brands, if they no longer want that item, they can recycle it, we will collect the pieces back. Our goal in doing this is so that we can sterilize the products, repackage them, and send them to poor and poverty-stricken areas in our region, and even all over the world. This will let those people who do not have enough income to experience our fashion feel a sense of that beauty and aesthetics in their life as well. It will ignite their desire for that beauty in their hearts, and their pursuit of fashion, too. This is what I have felt, after experiencing the impact of the coronavirus. Each person, each one of us, we are equal, no matter race or creed. It does not matter which region you live in, whether you are rich or poor, this coronavirus has taught all of us this principle. Many people, in the course of this pandemic, have fallen ill; whether they are rich, poor, or powerful or weak, many from all kinds of backgrounds have been infected because this coronavirus does not discriminate. This is what nature is teaching us, each human deserves respect because we are equal.
Based on this concept, in the future, we will definitely go through with this recycling program. And we believe, that this kind of recycling and redistributing to poorer areas, will also let those people who are currently in a difficult situation understand the brands we are cooperating with in a direct way, and one day, when these regions or countries lift themselves up out of poverty, and they start to also enter that phase of fast growth, these people who inhabit these regions will also become potential consumers, and fans of these brands, as well. This is how we can gain understanding from giving, based on mutual respect.
Once more, I extend my sympathies to those who have been affected by the coronavirus, and after this situation resolves, we will go arm in arm forward. We will not be affected by some disagreement, or different opinions or approaches; and use that to air grievances with one another. The coronavirus has taught us all, I trust, the importance of acceptance and compromise, and that we are all equal and should respect one another.
Again, from this coronavirus, we have learned that we are all equal, and I believe that when we really, deeply, feel this point to be true, that is when we will have the motivation for an even smoother cooperation.
CEO - Founder YMYX