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The Economic Fallout of Online Fashion Week

The global fashion capitals are missing out on more than $600 million as runway shows go digital, hotels sit empty and nightclubs, restaurants and stores remain shut for the second season in a row.
Anna Rosa Vitiello and Chrissy Rutherford, both formerly Hearst employees, have become full-time influencers. Getty Images.
Anna Rosa Vitiello wearing white Loewe bag with fringes and Chrissy Rutherford is seen wearing blue coat, turtleneck with print, Wandler bag, black high waist leather pants outside Elie Saab during Paris Fashion Week Autumn/Winter 2020/2021. Getty Images (Christian Vierig)
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Each year over four weeks in February and March, thousands of fashion executives, celebrities, influencers and models hopscotch between the world’s style capitals to attend runway shows. Attached to them is a multimillion-dollar economy that pumps both investment and tourist spending into New York, London, Paris and Milan.

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