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":"c7b7fe3ed6f5e96975efd8330e7e30ec","s":"3dfda11e6dd7c4fc"}
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