These are some of the findings from our latest report, The State of Fashion 2020 by McKinsey in partnership with The Business of Fashion (BoF). The 2020 McKinsey report on the state of fashion predicts that revenue growth will slow and that sustainability will continue to be a hot topic. People create and sustain change. A new report from McKinsey and Business of Fashion finds fashion executives are far less optimistic heading into 2020 than they were ahead of 2019, with 57 percent of luxury leaders forecasting that next year will be worse. The industry was already on high alert, and executives expressed pessimism across all geographies and price points in our annual report, The State of Fashion 2020, released late last year. Mckinsey & Company Say That“Successful Companies Will Be The Ones That Make Moves Early.”—The State Of Fashion 2020. By the end of the year, luxury sales in China could be 8 to 13 percent higher than in 2019, according to McKinsey Fashion Scenarios. The new consumer insights series form McKinsey Australia explores the unique impact of the COVID-19 pandemic on Australian consumer sentiment, confidence and behaviour. Use minimal essential December 2, 2020 The State of Fashion 2021: In search of promise in perilous times (McKinsey) The sober mood among fashion executives surveyed in last year’s report has evolved over recent months into a strong determination to manage the industry through the COVID-19 pandemic. Come to McKinsey to do the best work, with the best teams and truly be at your best. tab. The McKinsey Global Fashion Index (MGFI) forecasts that fashion industry revenue growth will slow further in 2020—down to 3-4 per cent—slightly below the predicted growth for 2019. 'Silver linings', 'Tailored Strategy' and 'Better Normal' are the keywords to reflect on from this comprehensive report. Press enter to select and open the results on a new page. They are also most successful in attracting funding and talent, often leaving the rest to fight over scraps. These are some of the findings from our latest report, The State of Fashion 2020 by McKinsey in partnership with The Business of Fashion (BoF). It asks international fashion executives and experts to rate their business sentiment, investment plans, and industry trends. No Brasil, o … Created in partnership with McKinsey & Company, the report anticipates that, due to the pandemic, companies will post a 90 percent drop in profit by the end of 2020 (in 2019, profits rose four percent). The McKinsey Group, in partnership with The Business of Fashion, has released the latest report, called 'The State of Fashion 2021' that drills down into the major themes affecting the fashion economy and assesses a range of possible responses. Against this background, fashion-industry fortunes are highly polarized. The State of Fashion 2021, BoF and McKinsey’s annual report analysing the trends that will shape fashion in the year ahead, will be released Dec. 2. The latest reading of the McKinsey Global Fashion Index (MGFI), meanwhile, reveals new insights into fashion-company performance by category, segment, and region. Our flagship business publication has been defining and informing the senior-management agenda since 1964. Stock-market valuations of tech players have reached dizzying levels, reminiscent of the dot-com boom of the early 2000s, while a number of private companies have reached unicorn status. Business of Fashion has released its annual report on the state of the fashion industry, revealing a sharp decline in profit over 2020 as well as predicting the future of the sector. Some are household names, while others are less visible but still pack a punch. Please click "Accept" to help us improve its usefulness with additional cookies. For many in the fashion industry, the glass is half empty. 07.12.2016 - McKinsey & Company | After a tough 2016, growth in the $2.4 trillion industry may accelerate next year, according to the first joint report from McKinsey and the Business of Fashion. These are some of the findings from our latest report, The State of Fashion 2020 by McKinsey in partnership with The Business of Fashion (BoF). Based on our executive survey, the words on everyone’s lips are sustainability, digitization, and innovation. Learn more about cookies, Opens in new collaboration with select social media and trusted analytics partners This fourth in our annual series analyzes major themes around the fashion economy and breaks new ground to explain the dynamics driving the industry. Explore some of the most popular and innovative insights that the McKinsey Global Publishing team brought to you this year. 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