McKinsey & Company news and archive

The State of Fashion 2026: Turbulence is the new normal

The annual State of Fashion report by global management consulting firm McKinsey & Company and BoF Insights, The Business of Fashion’s data and advisory team, has revealed that 46 percent of fashion executives expect industry conditions to worsen in 2026, an increase from 39 percent in last year’s report. The report, which reveals how changes in...

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Fashion

BFC publishes inaugural diversity, equity and inclusion report

The British Fashion Council has coauthored a new report into the diversity in the UK fashion industry with the Outsiders Perspective, the (Fashion) Minority Report and McKinsey & Co. The report marks the first comprehensive report on diversity, equity and inclusion in the fashion industry in the UK, presenting findings from industry-wide The UK...

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Business

Fashion industry forecasted to contract by up to 30 percent

A new report by The Business of Fashion and McKinsey & Company has detailed the effects of COVID-19 on the global fashion industry, and the results are not pretty. The fashion industry is in crisis, and millions of jobs are at stake, along with the potential for many companies to go bankrupt. The global fashion industry is projected to contrast...

Fashion

BoF and McKinsey predict 2020 to be a bleak year in fashion

Business of Fashion teamed with McKinsey & Company for its fourth annual State of Fashion Report, which determined pessimistic predictions. The fashion industry can expect a year of uncertainty and concern across all geographies and value segments for 2020, save for only a few bright spots. The McKinsey Global Fashion Index forecasts that...

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Business

McKinsey: this is what the fashion industry can expect in 2019

2019 will be a bumpy ride for most fashion players, according to management consultancy firm McKinsey & Company and online publication Business of Fashion in their new joint report The State of Fashion 2019, on which they lay out the main trends and developments to be expected in the year ahead. “The ones who will succeed will have to come to...