Apparel and accessories
January 21, 2025
Macroeconomic pressures are expected to continue weighing on the personal luxury goods sector, according to the new report. Image credit: Fashionphile
By Amirah Keaton
The global luxury industry is facing a challenging environment as growth decelerates, per insights from global consulting firm McKinsey & Company.
{"ct":"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","iv":"e64c779a6ed0378297eebee55136a824","s":"50071339632dbdcb"}
Share your thoughts. Click here