Fashion in Limbo: Uncertainty, Resilience, and New Growth


04 December 2023, Mumbai

Recovery Stumbles, Consumers Cautious – Fashion Faces Rocky 2024

  • McKinsey report: Slow, uneven global rebound casts doubt on industry's future.

  • Pessimistic consumers, inflation squeeze value creation and growth.

Learning from 2023: US, Europe Lag, China Falters

  • Performance hinges on adapting to past challenges: weak Western markets, China's slowdown.

  • Demand shifts threaten 'bullwhip effect': supply chain instability, job losses, investment delays.

Resilience and Innovation Key to Success

  • Fashion must navigate obstacles: create value, find new growth drivers, understand diverse influences.

  • Luxury remains profitable, but growth slows to 3-5% (down from 5-7% in 2023).

US Luxury Rebounds Slightly, Optimism in Emerging Markets

  • US, Europe cautious, but American luxury to see 2-4% year-on-year growth after a rough 2023.

  • India, Southeast Asia offer glimmers of hope with their rapidly expanding fashion industries.

Will fashion weather the storm and find its new rhythm in 2024?.

5 Key Insights :

  1. Rocky Road Ahead: Uncertain recovery, cautious consumers. (5 words)
  2. Global Growth Stumbles: Uneven rebound, industry doubts linger. (6 words)
  3. West Loses Shine: US, Europe lag, China slows down. (5 words)
  4. Bullwhip Looms: Demand shifts, supply chains at risk. (5 words)
  5. Innovate or Evaporate: Resilience key, find new drivers, understand trends.

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