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":"058304615ebe0b3584ae4c705dc65d68","s":"9a8eb6b3385e426e"}
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