Digital acceleration, advances in sustainability, and overall optimism point to recovery, but challenges remain for the fashion industry

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Share this email Share this email on LinkedIn   Share this email on Twitter   Share this email on Facebook   New from McKinsey & Company How fashion is faring The global fashion industry was not immune to the challenging conditions brought on by the pandemic. And though all signs point to a full recovery in fashion sales in the year ahead, performance will vary across geographies as the bruises of the crisis linger. What can fashion leaders do to brace themselves for the aftershocks? Get up to speed with these recent insights to discover the standout themes expected for 2022, and dive deeper on key topics, including: the upcoming demands of digital, sustainability, and the supply chain strategies to help the industry overcome sourcing hurdles the economic opportunity—and moral imperative—to serve underrepresented communities the inherent value of the resale sector Read more State of Fashion 2022: An uneven recovery and new frontiers In 2022, the fashion industry can return to growth as changing category landscapes, new digital frontiers, and advances in sustainability continue to present opportunities. Get on-trend   Revamping fashion sourcing: Speed and flexibility to the fore Supply-chain disruptions have made fast, flexible sourcing a top priority for fashion companies. Our survey of global sourcing executives reveals ambitious targets—and much work still to do. Drive forward   Serving the Black consumer is a $300 billion opportunity Tailor products specifically to meet Black consumer needs and wants, and not only is there economic value to be gained but also a greater chance to meet social and moral objectives. Look beneath the surface Retail supply-chain strategies for the holidays and beyond How can retailers ensure strong sales this holiday season amid continuing supply-chain problems? Two McKinsey experts share their insights. Recharge and reset   Welcome to luxury fashion resale: Discerning customers beckon to brands Intrigued customers are breathing fresh life into the luxury apparel market, with a growing appreciation for pre-owned accessories and clothing. For most, brand involvement in resale is a plus: but can their enthusiasm bring the high-profile labels on board? Seize the opportunity Diversity in fashion: Voices from the industry Hear directly from fashion students, emerging designers, and industry leaders about their experiences in the US fashion industry—and their ideas for creating more inclusive workplaces. Get perspective In fine jewelry and watches, sustainability shines through Consumers shopping for high-end jewelry and watches are increasingly favoring brands that act responsibly, value diversity, and have a compelling brand presence both online and offline. Rewrite the rulebook   Retail's need for speed: Unlocking value in omnichannel delivery The race to provide ever-faster omnichannel order fulfillment is on. Where should retailers keep up—and what are the value-creation opportunities in doing so? Fast times   Crafting a fit-for-future retail operating model Retailers must move beyond cost cutting to embrace a comprehensive transformation. 3 big ideas Jumpstarting value creation with data and analytics in fashion and luxury In a time of uncertainty, fashion and luxury companies are struggling to monetize their data. Leading firms are moving swiftly, gaining market share, and creating lasting value. Leap in   To see more essential reading on topics that matter, visit McKinsey Themes. — Curated by Eleni Kostopoulos, a digital publishing manager based in New York Follow our thinking McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android Share these insights Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. You received this email because you subscribed to our Consumer & Retail alert list. Manage subscriptions | Unsubscribe Copyright © 2021 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007