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1. • • While stimulus spending and economic recovery brought strong results in 2021, a series of challenges have since led to inconsistent results and compressed valuations. But there’s optimism for a turnaround in 2025 as inventory levels improve, discounting lessens, and new products stimulate demand.
     www.morningstar.com/business/insights/blog/markets/apparel-industry-trends

     2024 Apparel Industry Analysis: What Advisors Need to Know

2. People also ask

   Will fashion companies see a decline in economic profit in 2020?

   • Indeed, according to McKinsey Global Fashion Index analysis, fashion companies will post approximately a 90 percent decline in economic profit in 2020, after a 4 percent rise in 2019. Given the ongoing uncertainty, our predictions for industry performance next year are focused on two scenarios.

   The State of Fashion 2021 - McKinsey & Company

   www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our Insights/State of fashion/2021/The-State-of-Fashion-2021-vF.pdf

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   Should fashion brands rethink their retail footprint in 2021?

   • Fashion brands need to urgently scrutinise their global retail footprint or risk further financial blows in 2021. Retailers will review each location and consider radical changes based on the store’s new purpose in the post-pandemic era.

   The State of Fashion 2021 - McKinsey & Company

   www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our Insights/State of fashion/2021/The-State-of-Fashion-2021-vF.pdf

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   What will brands look like in 2021?

   • In 2021, we expect brands to sharpen their assortment using high-quality analytics, and to test more products with consumers ahead of production. Brands will focus on accelerating speed to market and on aligning launches and product drops with their customers’ needs rather than the traditional fashion calendar.

   The State of Fashion 2021 - McKinsey & Company

   www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our Insights/State of fashion/2021/The-State-of-Fashion-2021-vF.pdf

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   What happened to the fashion industry in 2020?

   • After 4 percent economic growth in 2019, the events of 2020 devastated fashion industry performance with economic profit estimated to be down 93 percent year-on-year. Fashion industry value is now further concentrated among the top players — 60 percent of the industry was value-destroying in 2019, growing to an estimated 73 percent in 2020.

   The State of Fashion 2021 - McKinsey & Company

   www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our Insights/State of fashion/2021/The-State-of-Fashion-2021-vF.pdf

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   Will Canadian apparel sales grow in 2022?

   • In November, a report by Trendex said Canadian retail apparel sales fell by 23.6 per cent year-over-year in 2020 and the forecast growth was 13.9 per cent in 2021. At that time, Trendex was forecasting 8.2 per cent year-over-year growth in 2022.

   Canadian Apparel Retailers to Struggle and Continue Losing Market Sha…

   retail-insider.com/retail-insider/2022/01/canadian-apparel-retailers-to-struggle-and-continue-losing-market-share-amid-new-covid-variant-trendex-report/

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   What will fashion look like in 2021?

   • In 2021, we will see brands applying smarter approaches to assortment, aiming to reduce complexity and realign collection drops with clear consumer opportunities. Another way brands are streamlining their assortment is by breaking the shackles of the traditional fashion calendar.

   The State of Fashion 2021 - McKinsey & Company

   www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our Insights/State of fashion/2021/The-State-of-Fashion-2021-vF.pdf

   See all results for this question

3. www.statista.com › topics › 5125Canadian apparel market - statistics & facts | Statista

   www.statista.com › topics › 5125

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   Oct 1, 2024 · The Canadian apparel market is the ninth largest apparel market worldwide, with all the countries ahead in the ranking, and many below, boasting significantly larger populations than Canada.

   • H&M Group

     E-commerce as share of total retail sales worldwide...

   • Children's Clothing Largest Retail Chains Canada 2021

     The children's apparel retail chain Carter's/Osh Kosh...

   • Clothing Manufacturing Sales Value Canada 2020

     Number of employees in the apparel manufacturing industry in...

   • Textile, Clothing and Leather Manufacturing GDP Canada 2021

     Premium Statistic Textile and clothing industry investments...

   • Menswear Quarterly Sales Canada 2021

     Men's apparel store monthly sales in the U.S. from 2017 to...

   • Clothing Manufacturers by Region Canada 2021

     Forecast market value of the apparel retail industry in...

4. retail-insider.com › retail-insider › 2022Canadian Apparel Retailers to Struggle and Continue Losing ...

   retail-insider.com › retail-insider › 2022

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   Jan 10, 2022 · The reemergence of COVID will continue to put a strain on the Canadian apparel industry with uncertainty over shopping restrictions in 2022. But a new report by Trendex North America, a marketing research and consulting firm, says apparel specialty chains will lose share in the market for the sixth year in a row.

5. Videos

   • 

     3:12

     bbc.co.uk

     Fast fashion: 'We all have to face up to clothes' climate impact'

     Oct 28, 2021

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     mckinsey.com

     Fashion’s digital transformation: Now or never

     May 6, 2020

   • 

     weforum.org

     Suits you - and the planet: Why fashion needs a sustainability revolution

     Sep 21, 2021

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6. www.mckinsey.com › ~ › mediaThe State of Fashion 2021 - McKinsey & Company

   www.mckinsey.com › ~ › media

   The State of Fashion 2021 In Search of Promise in Perilous Times EXECUTIVE SUMMARY For the fashion industry, 2020 was the year in which everything changed. As the coronavirus pandemic sent shockwaves around the world, the industry suffered its worst year on record with almost three quarters of listed companies losing money.

   • File Size: 9MB

   • Page Count: 128

7. www.mckinsey.com › industries › retailReimagining the apparel value chain | McKinsey

   www.mckinsey.com › industries › retail

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   May 24, 2024 · Today, brands are grappling with the complex challenge of rebalancing their global sourcing footprint. First, they want to diversify to enhance supply chain resilience by creating redundancy and avoiding an overreliance on a single location. Second, brands are pursuing nearshoring to improve speed, cost, and agility.

8. www.mckinsey.com › featured-insights › themesWhat’s next for the fashion industry - McKinsey & Company

   www.mckinsey.com › featured-insights › themes

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   Feb 14, 2021 · The COVID-19 pandemic accelerated a number of trends in the fashion industry, including a shift to digital, a renewed focus on fairness and social justice, and the emergence of a “less is more” mindset.

9. www.statista.com › topics › 5091Global apparel market - statistics & facts | Statista

   www.statista.com › topics › 5091

   • Cached

   Oct 22, 2024 · In 2023, executives in the industry were split as to their expected change in the global fashion market conditions. Only around one quarter of experts were positive about the outlook for 2024.

10. www.nytimes.com › 2021/06/18 › businessWhat Are We Going to Wear? - The New York Times

    www.nytimes.com › 2021/06/18 › business

    Jun 18, 2021 · What Are We Going to Wear? Predicting the future is a huge part of retail. Trend forecasters are back at it, eyes more on TikTok than the runway, adapting to a reality no one could have predicted....