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":"a336cedf841c881d568efb9e2045a9cf","s":"a2011938c37360ff"}
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