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":"7985fc01b4b197dfc7b84e6c85215b36","s":"987a04dca0f5a7b6"}
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