New Fashion on Climate report urges all industry stakeholders to play their part
A new report by Global Fashion Agenda and McKinsey & Company called Fashion on Climate (2020) addresses all stakeholders in the fashion value chain, including brands, retailers, manufacturers, citizens, investors, and policy makers to play their part in reducing emissions and align with targets set out in the Paris climate accord. In 2018 the...
10 Sep 2020
Brands increase digital marketing spend, despite fall in revenue
Over two-thirds of businesses have seen a decrease in revenue since the start of the pandemic, according to a survey conducted by the Dublin-based Digital Marketing Institute (DMI). It comes as no surprise as brands and retailers, especially smaller businesses, have decreased their overall marketing spend and are channeling their advertising...
1 Jul 2020
80 percent of fashion businesses could fall in financial distress, says report
McKinsey has published new revenue estimates for the global fashion industry gripped by the coronavirus crisis. While even before the pandemic fashion leaders were on high alert with disrupted financial markets, upended supply chains, and crushed consumer demand across the globe, Covid-19 has accelerated the blow to both supply and demand....
21 Apr 2020
Top 10 challenges facing fashion in 2020
"Anxiety"and"worry".With those two words we could very well define the feelings with which the fashion world, and its top executives, face the year 2020. This situation is counterbalanced by the slight air of optimism with which some sectors, especially in the United States, were entering 2019. This is at least what the latest annual report on...
30 Dec 2019
Sustainability is the new fashion must-have
Sustainable sourcing at scale is the fashion industry’s new must-have. Since 2016, searches for the Instagram hashtag #sustainablefashion have increased fivefold. More than half of the world's purchasing executives in the fashion industry consider sustainability to be one of their most important business strategies and it has become an...
18 Oct 2019
McKinsey, a management consulting firm, to open retail store
McKinsey, a management consulting firm to many Fortune 500 businesses, is to open a retail store in an American shopping mall selling underwear, jewellery and beauty. The store's success will depend on data, as the driver of this retail venture is to see the "effectiveness of new technology that retailers and their advisers could deploy to keep...
27 Sep 2019
How retailers can make the most of their physical stores
We’ve all seen it, department stores in refurbishment mode, with entire floors boarded up, sectioned off and hidden from view, while it undergoes a never-ending re-lift or re-format to help it boost sales. Often these refurbishments take many months or even years to complete, without the guarantee that once its new design is unveiled that said...
18 Apr 2019
Video: Digital Landgrab | The State of Fashion 2019
The e-commerce war will continue, as digital players strive to become the platform of choice for both consumers and fashion companies. Source: Youtube, BoF, McKinsey
14 Jan 2019
Video: Radical Transparency | the State of Fashion 2019
Fashion companies must come to terms with consumer's desire for transparency across the supply chain, reveals McKinsey & Business of Fashion's report. Source: Youtube, BoF
10 Jan 2019
Video: The State of Fashion 2019
The state of fashion for 2019, as analysed and predicted by McKinsey and the Business of Fashion. Source: Business of Fashion, McKinsey, Youtube
10 Dec 2018
Video: The State of Fashion in 2019
The Business of Fashion x McKinsey Source: Business of Fashion, YouTube.
30 Nov 2018
Many retailers are closing the wrong stores, says McKinsey
More than 7000 stores closed in the US in 2017, and the trend continues into 2018. As traffic in US shopping malls decreases, investment bank Credit Suisse forecasts 25 percent of all American malls to close by 2022. However, some companies may be choosing the wrong shops to close, according to a recent study by management consultancy firm...
6 Aug 2018