FREQUENTLY ASKED QUESTION
#9- Q: Will our company, and the cooperation we have between existing partner designers, be negatively affected or suffer as a result of CO-VID19?
A: At present, we have indeed been impacted to some degree because of this coronavirus. Firstly, it is very clear that there will be some delays to our launching timeline, largely in part due to the fact that a lot of our partner factories have closed indefinitely. In China, and now in Europe, consumption overall virtually ground to a halt to fight contagion, countries have been sealed off entirely. Because many government agencies also are on pause, the registration of trademarks and approvals has also been delayed in part; these factors have of course caused a big impact on our business.
But as we see the revival of China’s governmental operations, and the recovery in the consumer market there, I believe that we will very quickly see China’s consumer market and overall situation return to normal.
At present, we have nearly one hundred Italian factories, and several hundred other factories from Portugal, and many more from Poland, Bulgaria and Spain, whom we have established a strong chemistry and camaraderie with, and we believe, that this number will grow into the further hundreds in the future.
Several of our partner factories, are very large in scale - they represent the top-tier in their country, with a network of several dozen, or more, factories belonging to their group, and are asking to be admitted to our program. A large number of them also produce for brands like Armani, Gucci, etc., and they are very enthusiastic as well to join us, and will invest their resources in our project with full force.
Our business and our plans, when we have shown them in detail to those factories, were received with a very enthusiastic, and even passionate response, that we really did not expect. These factories fully agreed with the principles of our project, and felt strongly that our project represents one of the main trends of the future of the fashion industry.
Of course, this does not even include those Chinese factories, with whom we have already established relationships with.
As a result, we very firmly believe, that the impact to our business from this coronavirus, is only a temporary one. And toward the future, we harbour nothing but confidence.
As a result, the situation of our company, we believe, can give those brands who have suffered losses in their European business some hope. I also believe that in the course of cooperating with us, those designers with whom we have partnered will be able to take that profit from our activities in the Far East, to aid their recovery in the European markets as well.
Again, we are full of confidence, and we know, that despite this tough moment, we will get there.
CEO - Founder YMYX