Clothing stores, including some international businesses that withdrew from the market after losing confidence in Lebanon’s ability to get out of its crisis anytime soon, have been shutting down one after another since early 2020. Lebanese President Michel Aoun said on Christmas Eve that “the country needs six or seven years” to recover.
A study by Lebanon’s Central Administration of Statistics on the impact of the economic crisis on prices, including clothes and shoes from December 2018 to November 2021, indicated that inflation hit 2146%.
