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":"af9a631ef779b4c2d22e3b9f9052572e","s":"f5ccdbd831082ff6"}
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