Research
November 30, 2022
Upscale fashion is expect to fare better than fast fashion and other tiers in 2023, per a new study from McKinsey & Company and The Business of Fashion. Image credit: McKinsey, Business of Fashion
By Marybeth Connaughton
The fashion industry will likely face a downturn on a global scale, according to “The State of Fashion 2023” report co-authored by management consultancy McKinsey & Company.
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","iv":"5fef1781fd2390fc214cc63b3ea2329a","s":"6fb8caa3f57fd639"}
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