26 November 2019
The State of Fashion 2020: Navigating Uncertainty
McKinsey, in partnership with The Business of Fashion (BoF), has just released their latest report on the industry, The State of Fashion 2020.
This report analyses major themes around the fashion economy and breaks new ground to explain the dynamics driving the industry.
These are some of its key findings.
- Prevailing mood in the industry is on of anxiety and concern
- The fashion industry’s growth is forecasted to slow further in 2020. Industry is highly polarised, with few winners (the top 20 players) and scores of losers
- Fashion players should focus on clearly understanding how to optimise their store networks and experience, and how to best deliver industry change toward greater sustainability
- R&D and innovation will play vital roles in delivering short-term sustainability and reinventing fashion’s economic model for longer term transformation
You can access The State of Fashion 2020 at this link.