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":"1ec77a720ae7052aa3060e5abcbf92e9","s":"8ea2b3ef7014c62f"}
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