World fashion capitals get a $600 million haircut thanks to Covid-19

Each year, world's top fashion executives, celebrities, influencers and models travel to world's style capitals to attend runway shows

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.

For the second season in a row, all of that has been erased by the pandemic. Almost all shows will be virtual. All told, the four cities could miss out on more than $600 million, according to data compiled by Bloomberg.

New York: More than 100 events are on the calendar, from panels to