“What really struck me was the depth and severity of the current crisis, as reflected in the applicant pool,” said Steven Kolb, the chief executive of the CFDA. “There were businesses on it that are 30 years old, who have helped build the American fashion industry, but who have remained content, year in and year out, to operate locally, without the goal of being a global lifestyle brand.”
Article source: https://www.nytimes.com/2020/04/20/fashion/a-common-thread-fashion-grants-coronavirus.html