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":"86556d9ee50c7799f3226b77b7ee66ba","s":"f11292b33a2543d6"}
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