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":"e769dc393b0bd43ad33dd3580ceace96","s":"df87b31068c8db0f"}
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