Reported about 6 hours ago
A recent McKinsey & Company survey identifies major risks for the fashion industry in 2025, including consumer confidence, economic volatility, and geopolitical instability. While inflation has eased, many consumers prioritize price over sustainability. The shift in consumer behavior also reflects a growing preference for discounted retail options, including luxury brands at lower prices. The looming threat of tariffs may further complicate the landscape, pushing brands towards new markets like India and Japan, yet China is expected to remain a critical player in luxury sales.
Source: YAHOO