The consequences of the coronavirus shock in the textile and fashion industry

"Innovation is the driver of success"

Managing partner Ingeborg Neumann of Peppermint Holding GmbH and honorary president of the German Textile+Fashion Association provided an insight into the already noticeable effects of the pandemic in the textile and fashion industry. This second Members Lounge was held as part of an Internet event.

With over 700 employees, Peppermint Holding GmbH generates annual sales of around EUR 90 million at seven locations in Europe, four of which are in Germany. The company produces individual yarn solutions for corporate and workwear. In the mobility sector, the yarns for aircraft, bus, train and car seat covers are very popular.

The company is involved in various start-ups and two German venture capital funds that invest in young technology companies in the life sciences and medical technology sectors. "Innovation is the driver of success - even outside the textile world," explains VBKI Executive Committee member Ingeborg Neumann. Despite the numerous measures, the company has fortunately not suffered as much as others during the lockdown - such as the retail sector. However, it has also registered for short-time working. For the partner, shopping plays an important psychological role and is also very important. "Shopping should be an experience," Neumann suggested. However, this experience is currently not possible due to the pandemic. The constant struggle to generate sufficient sales is very tiring. And yet her company has produced 20 million masks per week.

Many companies are currently focusing on working from home. The coronavirus has acted as a catalyst for digital acceleration, Neumann suggests. The search for new business models, including in the retail sector, is a necessary change. Digital solutions are a key element of the corona crisis response. Nevertheless, the Westphalian strictly distances herself from so-called "fast fashion". For her, sustainability is a significant issue with important social aspects. She hopes for a possible (not so distant) comeback of Europe as a production location, provided that the automation of clothing production can be carried out by robots.