How the Coronavirus Is Disrupting the Sneaker Industry

Unless you've been living under a rock for the past few months, you'd know that the coronavirus has taken over the world. Every time you turn on the news or scroll through social media, absolutely everyone is talking about the pandemic. From world-renowned health experts to your next door neighbour's Auntie Gladys, it seems like wherever you turn, COVID-19 has made an impact one way or another, and that's exactly what has happened with the sneaker industry.

A disease that broke out towards the end of 2019, over 91,000 cases have been confirmed so far and this number will just keep on growing until a cure is created. With staggering numbers like this, it's no wonder that the trainer game has been disrupted. Earlier this year, Nike announced that they were closing half their stores in China.

This resulted in a $17 billion loss in market value for the Swoosh. This is an insane amount considering China has been the Beaverton brand's most profitable region for the past four years, bringing in an additional $800 million in operating profits.

adidas also shuttered 50% of their brick-and-mortar stores in China this year, and this prompted a whopping 85% drop in business since Chinese New Year on January 25th. This downfall has also reflected on to neighbouring countries like Japan and South Korea as well, though in ways that just aren't comparable to the impact of Greater China.

The Three Stripes' latest Yeezy drop was affected too. Previously set to exclusively launch in Paris, Los Angeles, and Shanghai, the long-awaited Yeezy 700 MNVN "Orange" has been delayed until next month in China. Though the Kanye West-helmed label has yet to confirm that there is indeed a link, this wouldn't be too ridiculous to assume.

While these massive losses in profit most likely won't affect sneaker prices here in the UK, it's safe to say that supply will be a lot more scarce considering many factories in Asia have been closed en masse. To add fuel to the fire, shipping companies have also reduced the number of seaborne vessels they use to transport goods from China to the rest of the world in a bid to stop COVID-19 spreading worldwide.

The amount of freights travelling from Asia have plummeted by more than 70%, so naturally enough, you might expect a few long delays before your sneakers get to you - if they ever do that is.

Outside of the shoe game, both Rakuten Fashion Week Tokyo and Seoul Fashion Week FW20 have been cancelled, with the former stating, "JFWO will continue to do our very best within our power to provide support in gaining business opportunities, such as introducing collections on the Rakuten FWT 2020 F/W official website, support in having looks introduced in national and international medias, etc." The move to digital isn't new by any means, as Giorgio Armani chose to live stream its catwalk to audiences around the globe over Paris and Milan Fashion Week earlier this year away from the pre-arranged venue.

It's hard to find any positives especially in drastic times like these, but there are a few optimistic points that are definitely worth mentioning. For instance, PUMA has come out and said that it still aims to reach its 2020 targets. While they have acknowledged that their profits and sales over the first quarter have been lower than they had anticipated, the German giant have noted that it is working under the assumption that the coronavirus situation will "normalise" in the short term.

Elsewhere, the lack of air and sea travel has resulted in a drop in air pollution. According to new research from NASA, NASA Air Quality Researcher Fei Liu explained that, "This is the first time I have seen such a dramatic drop-off over such a wide area for a specific event." While it's certainly hard to stay positive at this moment in time, statistics like this are just enough to keep us going, so put on your freshest sneakers and live your best life.