McKinsey & Company
The global fashion industry faces a pivotal year in 2025, marked by economic headwinds, shifting consumer priorities, and transformative opportunities, according to McKinsey & Company’s State of Fashion 2025 report and related analyses.
The global luxury fashion industry, once buoyed by relentless post-pandemic demand, now faces a prolonged slowdown with growth projected at just 1–3% annually through 2027, according to McKinsey & Company’s State of Luxury 2025 report.