Apparel and accessories
January 21, 2025
Macroeconomic pressures are expected to continue weighing on the personal luxury goods sector, according to the new report. Image credit: Fashionphile
By Amirah Keaton
The global luxury industry is facing a challenging environment as growth decelerates, per insights from global consulting firm McKinsey & Company.
{"ct":"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","iv":"a415b448028e753f57b2a04363430352","s":"2cda8ac70bacd207"}
Share your thoughts. Click here