The State of Fashion 2025: Challenges at Every Turn BoF. The ninth annual State of Fashion report by McKinsey & Company and BoF Insights, The Business of Fashion’s data and advisory team, reveals that economic and geopolitical challenges, combined with shifts in customer values, will define a turbulent year.
The global fashion industry faces economic uncertainty, a dynamic market, and consumer behavior shifts. Finding pockets of growth means navigating a complex maze.