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":"554d7b6096f2efc9e96494a14387268e","s":"c9238b084ba714e8"}
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