Being on the "inside" of the apparel industry, I now understand why so many brands are going through bankruptcies. The industry is pretty screwed up.
I'm referring specifically to the "normal clothing side," not "luxury fashion" which has different problems. I don't want to bore you, so here's the topline: All expenses in "apparel" are based on quantities, so the higher the quantity ordered, the lower the cost per unit. With "fast fashion," private equity, and discounting, the focus has been on-brand and customer growth (more, more, more!) but not profit growth. So, with higher total inventory costs (to get the lowest cost-per-unit), training customers to always expect a sale (because there is always a 40% sale at J. Crew, right?) and poor quality (which leaves excess inventory), brands have been going into debt - and now into bankruptcy. This was and is inevitable. Covid was just the straw that broke everything.
Sadly, I don't think the industry will change because there is just too much cheap money available. Although "retail" has changed with e-commerce, apparel manufacturing is a very old-school industry. There is much, much innovation to be had - and Everyday Sabbatical plans to be a part of it.