BoF and McKinsey & Company released their important report on the global fashion industry in 2017, focusing on the themes, issues and opportunities impacting the sector.
The report highlights that 2016 has been a tough year for the global fashion industry, which generated its worst operating profit since the financial crisis in 2009. But recovery is expected in 2017 as many fashion companies have already undertaken significant restructuring and are now primed to capture the benefits.
The report also lays out 10 key trends the fashion industry should look out for next year. The first set of trends are around global economy, including how fashion will respond to intensifying volatility, continued challenges in China and increased importance of urban centres. The second are around the consumer – who is growing ever better informed and demanding, and whose demographic profile is shifting.
For more info, please download the full report (see attached file)