How current global trends are disrupting the fashion industry
The McKinsey Podcast
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The Challenges for Brands in 2022
Despite a looming recession and inflation rates of 7% to 8%, we see that the consumers have a kind of backlog and a desire to spend on fashion. The jury is still out on how luxury will play out in this environment. We were all surprised how quickly luxury returned from the pandemic, mainly driven by China,. But also by a very strong recovery and a fast recovery in the United States. That's why I'm more concerned about the Christmas business for 2023.
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