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":"ce0f26a44b90e64d347ed61797bebc3f","s":"4c7db3774cabad0d"}
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