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Key themes that will shape fashion in 2023

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 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

 

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.