Photo (c) Fashion Council Germany featuring L-R: Dr. Achim Berg (McKinsey & Company), Marie-Louise Berg (FCG), Jörg Ehrlich (Odeeh), Inga Griese (ICON), Christiane Arp (FCG), Nick Blunden (The Business of Fashion), Claudia Hofmann, Mandie Bienek (beide FCG)
Berlin Fashion Week is in full swing, and aside from runway shows, exhibits and parties, came the presentation of The State of Fashion 2019 report. The report, which is based on a worldwide survey with over 270 fashion executives, was created by McKinsey & Company and Business of Fashion.
The report reflects the issues faced by the 2.5 trillion dollar fashion industry amid, what Achim Berg from McKinsey & Company describes as political, industry structural, and consumer change.
But the report also reflects a polarized industry where only one German company, Adidas, thrives among the top 20, and some surprising trends that are emerging including a growing popularity in re-used, rented and second hand garments. Berg continues: “We believe the new and the younger consumer is way much more open to different ways of ownership.”
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