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The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

BoF LIVE: The State of Fashion 2022

BoF’s Imran Amed and McKinsey’s Achim Berg unpack the report, and talk recovery strategies, as well as what opportunities and challenges businesses should be on the lookout for.
State of Fashion 2022
BoF PROFESSIONAL

This #BoFLIVE event was based on the ‘The State of Fashion 2022: Global Gains Mask Recovery Pains’ report. Click here to read our full analysis.

BoF and McKinsey’s annual State of Fashion report forecasts that global fashion sales will surpass their pre-pandemic levels in 2022 after revenues and economic profit fell sharply at the onset of the pandemic. In the year ahead, companies will unlock new money-making and brand-building opportunities in the digital world, improve sustainability through closed-loop design strategies, which repeatedly recycle textiles so they remain in constant circulation, and emerging technologies like product passports — digitised labels which use blockchain and the likes of QR codes to allow consumers access to information about a product’s materials, manufacturer and other sustainability credentials. However, the industry’s recovery will continue to be uneven, presenting problems for fashion players — including supply chain headwinds and various market and macroeconomic risks.

On the latest edition of BoF LIVE, BoF founder and chief executive Imran Amed and Achim Berg, senior partner, global apparel, fashion and luxury group lead at McKinsey & Company unpack findings from The State of Fashion 2022: Global Gains Mask Recovery Pains and talk recovery strategies as well as what opportunities and challenges fashion leaders should be on the lookout for.

“The industry is clearly chasing opportunities, and we would hope that in the way the pandemic is becoming endemic, there will be new appetite for dressing up, partying and there will be occasions for it,” said Berg. “But, it will require agility to deal with that.”

To participate in #BoFLive, BoF’s digital events series offering insight, advice and inspiration, visit our calendar where you can find details of upcoming digital events.

Further Reading

The sixth annual State of Fashion report by The Business of Fashion and McKinsey & Company forecasts that the global fashion industry will find its feet again after nearly two years of disruption, though supply chain headwinds will threaten growth prospects. Download the full report to understand the 10 themes that will define the industry in the year ahead and how to navigate the currents they create.



Recovery from Covid-19-related economic shocks will be uneven across fashion’s consumer and sourcing landscapes, leading international industry players to reassess local conditions as well as market-specific risks and opportunities.



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© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
Enjoy 25% BoF Professional membership until December 20