Fashion icons are mourning the death of the industry as we know it

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The coronavirus pandemic has battered a fashion ecosystem that was already showing signs of collapse.

Some industry leaders are speaking openly about the need to completely overhaul the system.

"I think in general, we've created a system that is unrealistic and a strain for even the largest of brands," Anna Wintour told the New York Times.

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Industry leaders are declaring the death of fashion as we know it.

With shows postponed or moving online, customer orders and manufacturing delayed, and reliable sales channels disappearing, many are predicting that the fashion ecosystem will be unrecognizable once the coronavirus pandemic is over. See the rest of the story at Business InsiderNOW WATCH: Why thoroughbred horse semen is the world's most expensive liquidSee Also:Experts say DTC brands like Allbirds and Bonobos might be able to fill the void of mall vacancies and store closures thanks to a few key advantagesThe Drive Thru: L'Oreal reopens offices, more chains file for bankruptcy, and the future of the department store remains in flux8-year-old startup Le Tote is bankrupt a year after buying Lord & Taylor and trying to save it from collapseSEE ALSO: 8-year-old startup Le Tote is bankrupt a year after buying Lord & Taylor and trying to save it from collapse

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