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Fashion industry challenges and global disruptions | McKinsey. Article (8 pages) In this episode of The McKinsey Podcast, McKinsey senior partner Achim Berg talks with executive editor Roberta Fusaro about findings from McKinsey's The State of Fashion 2022 report. They cover the concurrent effects of the many challenges facing both suppliers.

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According to McKinsey's analysis of fashion forecasts, the global industry will post top-line growth of 2 to 4 percent in 2024 (exhibit), with regional and country-level variations. Once again, the luxury segment is expected to generate the biggest share of economic profit. However, even there, companies will be challenged by the tough.

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Here are some trends the fashion industry is responding to using technology, as it continues to evolve to a better version of itself. • Supply chain pressures continue. Conventional wisdom is.

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For example, as the gorpcore trend cools in 2024, brands like Salomon and Arc'teryx may shift their outwear offerings from flashy jackets to more minimalist, "quiet outdoor" styles, according to BoF and McKinsey's State of Fashion report. Still, expect to see some pushback in 2024: "loud luxury," best characterised by more opulent.

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One such brand is PT Pantaloni Torino (or simply PT), a trouser-specialist from Turin, Italy. "PT was founded 10 years ago because the trouser market needed a new trouser brand with new fits and new details. In the course of the last 10 years, PT has satisfied that need," Domenico Gianfrate, who doubles up as the commercial and creative.

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Trend #2: Environmental commitment in fashion is here to stay. In 2022 there were close to 53m online mentions relating to sustainability and fashion. We used Google Trends and Consumer Research to look back five years. As you can see, Google searches and consumer mentions relating to sustainability and fashion have grown steadily since 2017.

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1:21. Zara founder Amancio Ortega struck a deal with Blackstone Inc. to buy a warehouse in the Netherlands let to Irish fashion retailer Primark, the latest of a series of logistics-asset.

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Australia has a relatively small apparel market compared to other Asia Pacific countries, such as China. Nonetheless, in 2022, Australia recorded an apparel market revenue of over 18 billion U.S.

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impact the fashion market. The year ahead will open with the industry in a state of high nervousness and uncertainty, with most executives across fashion and the wider business world bracing for a slowdown in growth in the global economy. Because fashion is a global business with global supply chains, industry

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As Australian Fashion Week kicks off, the Australian fashion industry says it generates $27.2 billion annually and employs 489,000 workers - 77 per cent of them women.

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NEW REPORT GUARANTEE. If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free! Purchase the Apparel and Footwear: Half-Year Update Global Briefings as part of our Apparel and Footwear research for June 2023. Euromonitor International is the leading provider of strategic market.

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Fast fashion market value forecast worldwide from 2021 to 2027 (in billion U.S. dollars) Premium Statistic Value of the secondhand apparel market worldwide from 2021 to 2027