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Couture, fashion and leather goods

Luxury, Gen AI and travel will lead uncertain fashion industry in 2024: report

November 29, 2023

Fashion industry executives are divided about what to expect next year, with 26 percent expecting conditions to improve, 37 percent saying things will remain the same and 38 percent predicting conditions will get worse. Image: The Business of Fashion, McKinsey & Company Fashion industry executives are divided about what to expect next year, with 26 percent expecting conditions to improve, 37 percent saying things will remain the same and 38 percent predicting conditions will get worse. Image: The Business of Fashion, McKinsey & Company

 

By Luxury Roundtable Intelligence

A mix of geopolitical, economic and climate challenges mean the global economic outlook will remain unsettled in 2024, directly impacting consumer confidence and spending in major fashion markets.

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