Fashion
November 11, 2024
The outlook for fashion, both luxury and non-luxury, is challenging, per a new report from The Business of Fashion and McKinsey & Company. Image credit: McKinsey & Company
By Luxury Roundtable Intelligence
Several factors, both economic and geopolitical, will affect the growth of the luxury and non-luxury fashion business in 2025.
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","iv":"84caba32c45dd4bfca2fecd58e1043ee","s":"e2b6c98acd6a10fb"}
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