Study: 158,000 jobs and 13,000 apparel and textile companies could disappear by 2021

An unprecedented disruption of retail, production and trade like the current one could send the European textile and apparel industry into a tailspin. In its recent report “Bruised but not beaten, Europe’s textile industry is a perfect candidate for a greener and digital recovery”, credit insurance company Euler Hermes predicts turnover to fall by 19 percent in 2020 and up to 8 percent of total industry employment and 6 percent of companies - about 158,000 jobs and 13,000 companies - to disappear by the end of 2021. FashionUnited wanted to know more about this grim prediction and talked to one of the study authors, Aurélien Duthoit, Euler Hermes’ sector lead for retail, technology & household.