And while “uncertain” and “challenging” remain the most common words that executives in the BoF-McKinsey Global Fashion Survey have used to describe the state of the industry this year, right behind them in third place is “optimism.”. More fashion brands will plan for recyclability from the fibre stage of the supply chain and many will harness sustainability through tech innovation in order to unlock efficiency, transparency, mission orientation and genuine ethical upgrades. The full programme and participants can now be found … Source: BoF, YouTube . ... State of Fashion … We expect to see several themes emerge as defining features of 2018, from Asian fashion players asserting their power on the global stage to personalisation at scale and cutting-edge deployment of artificial intelligence. The State of Fashion 2018 | Australia THE REPORT. Alongside consumers’ adoption of digital are raised expectations of customer experience and a higher scrutiny on convenience, price, quality, newness and a personal touch. Despite the rise of nationalism, isolationist rhetoric and re shoring, globalization will not stall. Download the full report to explore the 10 themes which will define the global fashion … When asked in the BoF … Should Retailers Weigh in on Social or Political Issues? Fashion Colloquium | Searching for the New Luxury | State of Fashion 2018 Register now for free. The affordable luxury expects luxury to continue at strong 3.5 to 4.5 percent growth. Fashion business should predictably unpredictable. Click here to download The State of Fashion 2018, The Business of Fashion and McKinsey & Company's in-depth report on the global fashion industry in 2018, focusing on the themes, issues and opportunities impacting the sector and its performance. The performance gap between frontrunners and laggards continues to widen: from 2005 to 2015 the top 20 percent of fashion companies contributed 100 percent of the economic profit, while in 2016 the top 20 percent contribution had increased to 144 percent. And while “uncertain” and “challenging” remain the most common words that executives in … Friday 1 June imagination ... Stichting Sonsbeek & State of Fashion Bovenbeekstraat 21 6811 CV Arnhem … But the rebound is not being felt evenly across the globe. the project. In 2018, an important tipping point will be reached when, for the first time, more than half of apparel and footwear sales will originate outside of Europe and North America, as the main sources of growth are emerging market countries across Asia-Pacific, Latin America and other regions. Dec 20, 2017. In the US and in the luxury sector it will be a year of optimism; for … The State of Fashion 2018 by The Business of Fashion (BoF) and McKinsey: Slower growth in mature markets, stronger polarization between winners and losers and ten trends set to shape the industry in 2018. This download is only available to registered users. Are These Fashions Linked to Forced Labour? There is general agreement that 2016 was one of the most challenging years the fashion industry has ever seen. Its database of over 500 private and public companies allows … The State of Fashion 2019 also includes the third read-out of our industry benchmark, the McKinsey Global Fashion Index (MGFI). The fashion industry is turning a corner. Things are looking up, but the rebound may be uneven, says this year’s The State of Fashion report. As consumer values coalesce around authenticity and individuality, brands will value data even more to tailor recommendations, engage influences and personalize experiences. Furthermore, there will be off-price deception. The luxury segment enjoyed the strongest improvement in 2017, driven partly by the return of luxury consumption in Asia, and in 2018, forecast luxury to further accelerate to 4 to 5 percent growth. And while “uncertain” and “challenging” remain the most common words that executives in the BoF-McKinsey Global Fashion Survey have used to describe the state … The fashion industry is turning a corner. Geopolitical turmoil, economic uncertainty and unpredictability are the new normal. Indeed, respondents to the BoF-McKinsey Global Fashion survey identified personalisation as the number one trend in 2018. For more information read our Terms & Conditions and Privacy Policy. Leading innovators will reveal the possibilities of artificial intelligence across all parts of the fashion value chain, exploring new ways of creating value for those employed in the fashion industry. Be among the first to receive news from eMAG! Personalisation and curation will become more important to the customer. The motto of this edition: "Fashion needs to change, we all know it. Other than that, Asian trailblazers. The fourth annual State of Fashion report by The Business of Fashion and McKinsey & Company forecasts slowing growth for the second year in a row and underscores a prevailing mood of anxiety and concern amongst senior fashion executives. The fashion industry is turning a corner. It will be a year of awakening after the reckoning of 2018 — a time for looking at opportunities, not just challenges. As consumers’ obsession with mobile grows, the end-to-end transaction will also likely move to mobile. For those leaning forward and willing to help design the new features of the modern fashion system, the opportunities at hand to truly connect with fashion consumers across the globe have never been greater. Fashion Colloquium: Searching for the New Luxury May 31 – June 1, 2018 in Arnhem, The Netherlands Conference organizer: ArtEZ University of the Arts, in collaboration with State of Fashion Academic partners: London College of Fashion… The project industry sales growth of 3.5 to 4.5 percent in 2018. In 2018, there are few fashion system that shown. Whether mass, specialist or premium, platforms will continue to grow in scale and reach compelling fashion brands to find ways of engaging more with these powerful sales channels. fashiontv. join us in our search for … This outlook varies across value segments too. The State Of Fashion 2018. We forecast particularly strong growth of 4 to 5 percent in the discount segment for 2018, continuing its strong trajectory from 2017. Our second State of Fashion Report with McKinsey & Company makes new predictions for the year ahead. }. The 10 trends shaping the global fashion industry in 2018. But we are now detecting glimmers of hope: executives report optimism (even amid uncertainty), and the McKinsey Global Fashion Index forecasts industry sales growth to nearly triple between 2016 and 2018, … The fashion industry is going through a seismic shift. Video: The State of Fashion 2018. The State of Fashion 2018 was created to provide a comprehensive view of the fashion industry. If … Dutch Retailers Grapple With Sudden Christmas Lockdown, Shahi Exports’ Anant Ahuja on Reforming the Fashion Supply Chain, De Beers Raises Diamond Prices for First Time Since Pandemic, Facebook, Twitter Face British Fines if Fail on Harmful Content, Careers Counsel | How to Improve Your Communication Skills, Get Out of China’s Coercive Cotton Fields, Raf Simons Debuts Multidisciplinary E-Commerce Platform. We know we have serious skill and talent gaps within apparel organizations – the last … 10. Off-price sector growth continues to be driven by the notion that it provides a solution to challenges like excess stock and slow growth, but the US market serves as a warning about saturation and possible sales cannibalization. In fact, 2017 signals the end of an era. In fact, 2017 signals the end of an era. Website showcasing the theme for the 2018 edition of State of Fashion, starting June 1 2018 in Arnhem. Leading players are therefore creating innovative business models, using granular customer insights as a source of differentiation and pushing the limits of their end-to-end product development process. The year 2018, the global economy will show things that unimaginable for fashion business. Our Client was looking to increase their tradeshow and boutique ship rate and better service their existing 5,000+ customer base. What Anna Wintour’s Big Promotion Means for Condé Nast, The Radical Strategy That Drove Nike’s Pandemic Success, No Parties, No Problem: How Fashion Is Selling Holiday Clothes in 2020, Tim Blanks’ Top Fashion Shows of All-Time: Alexander McQueen Spring/Summer 2001, September 26, 2000, Africa’s Answer to Amazon on Balancing Speed with Discipline, Report: Rihanna Seeks $100M to Scale Savage x Fenty. By FashionUnited. To help fashion ecommerce companies capture this opportunity, we’ve analyzed granular consumer behavior from 1.2 billion site visits across a wide cross-section of growth-stage online stores within the fashion … The West will no longer be the global stronghold for fashion sales. The challenges of operating in a fundamentally changing industry and an unpredictable macroeconomic environment has led fashion players to “toughen up.” Industry players are coming to accept unpredictability as the new normal, and fashion executives will respond by focusing their energy on improving what is within their control. ‘State of Fashion 2018: searching for the new luxury’ will take place from June 1 st to July 22 nd, 2018. The global fashion industry is on track for continued growth in 2018. The off price channel is expected to grow across European and Asian markets. Source: BoF, YouTube. display: none !important; All rights reserved. Looking towards 2018, there is a new sense of optimism in an industry plagued by uncertainty. Similarly, we expect the move away from the middle to benefit players in the value and discount segments. The 10 trends shaping the global fashion industry in 2018. © 2020 The Business of Fashion. Its principal aim remains to lay out the interconnectedness of the entire fashion ecosystem across … Tickets can be reserved via stateoffashion.org. The McKinsey Global Fashion Index forecasts industry sales growth to … Looking towards 2018, there is a new sense of optimism in an industry plagued by uncertainty. Average revenues for the global fashion industry are expected to rise between 3.5 and 4.5 percent in the coming year, to a total of $2.5 trillion according to The State of Fashion 2018… The State Of Fashion 2017. Other than that, there will also have start-up thinking. Besides that, platforms first will attract more customers. There also sustainability credibility. AI enhancements will go beyond the traditional areas of machine tasks into creative and customer interaction processes, blurring the line between technology and creativity. Traditional and heritage players will continue to be compelled to open their minds up to new types of talent, new ways of working, new kinds of partnerships and new investment models. 2018 will be a watershed year in fashion, when Asia comes into its own … The ongoing polarisation of the industry with consumers trading up or down from mid-market price points continues to create headwinds for mid-priced fashion players while those operating in the luxury, value and discount segments further pick up speed. In 2018, an important tipping point will be reached when, for the first time, more than half of apparel and footwear sales will originate outside of Europe and North America, as the main sources of growth are emerging market countries across Asia-Pacific, Latin America and other regions. Startup Thinking | The State of Fashion 2018 | The Business of Fashion As Europe and Asia get hooked on the myth of an off-price ‘panacea’, the fashion industry could be put at risk of margin erosion unless companies carefully consider their off-price channel strategies. A new phase of globalisation characterized by the exponential growth of cross-border bandwidth, connectivity and digital data flows will alter the global playing field and give certain players a competitive edge. But how? Site Map The McKinsey Global Fashion Index forecasts industry sales growth to nearly triple between 2016 and 2018, from 1.5 percent to between 3.5 to 4.5 percent. The McKinsey Global Fashion Index forecasts industry sales growth to nearly triple between 2016 and 2018, from 1.5 percent to between 3.5 to 4.5 percent. The State of Fashion Ecommerce in 2019: Global Data, Trends, & Insights. State of Fashion is an international fashion platform that connects pioneers in fashion design, research and business, and shares their ideas and innovations with the world. Its principal aim remains to lay out the interconnectedness of the entire fashion ecosystem across regions, market segments and product categories by distilling the industry’s current and projected performance, and addressing the factors shaping and driving fashion … The State of Fashion 2018 | BOF & McKinsey – was created to provide a comprehensive view of the fashion industry. What is new is that the absolute luxury segment is accelerating alongside affordable luxury. Fashion companies and executives must continue to be vigilant and nimble in order to adapt to an ever-changing environment but they will increasingly focus on directing their energies towards what is within their control. Such as, AI gets real. Its primary objective remains to outline the interconnection of the entire … After a challenging stretch, has fashion turned the corner? The consumer in 2018 will also show some changes, such as getting personal. Click below to download BoF and McKinsey & Company's in-depth report on the global fashion industry in 2018, focusing on the themes, issues and opportunities impacting the sector. fashion market. Furthermore, people nowadays are mobile obsessed. Sustainability will evolve from being a menu of marketing- focused CSR initiatives to an integral part of the planning system where circular economy principles are embedded throughout the value chain. Consumers will increasingly look to online platforms as the first point of search, attracted by their convenience, relevance and breadth of offering. Click here to download the report “The State Of Fashion 2019” by BOF & McKinsey. The client is a leading wholesale Fast FASHION brand from los angeles who attends 10+ tradeshow events per year. Brands Can’t Confidently Say No. In 2018 we expect this development to continue across all regions. … 0:42. The 10 trends shaping the global fashion industry in 2018… Dear Shaded Viewers & Diane, Under the missionary name: STATE OF FASHION, Arnhem’s former Fashion Biennale returns as a new organization and to stay, starting in June 1st 2018 with a … The fashion companies that flourish will re-focus on their strengths. In 2018, the top challenges have been identified, such as dealing with volatility, uncertainty and shifts in the global economy, competition from online and Omni channel, value chain improvement and digitisation, and decreasing foot traffic and offline retailing pressure. With two thirds of the world’s e-commerce unicorns, more than half of global online retail sales, and countless digital and tech innovations, Asia is no longer waiting for Western companies to step up Asian players will assert their power and leadership even more through pioneering innovations and global- scale investment and expansion. The question for fashion brands is no longer “if” but “how” to collaborate with big online platforms. These developments take place at the same time as the fashion industry is undergoing other transformative shifts. In Q4 2018, 20 companies still held 97% of economic profit in the … For our 4th annual State of Influencer Marketing report, not only have we surveyed 600 fashion, luxury and cosmetic professionals, but we’ve also counted on the opinions of 200 influencers and held an … The State of Fashion 2018. Fashion companies will deliver personalisation in many forms — from more-customised products, to curated recommendations, to communications and storytelling that connects to individuals. The State of Skills in the Apparel Industry 2018 Report. Now used to uncertainty after living with it for so many years, in 2018 fashion executives have begun to think less about survival and much more actively about their strategic agenda. TL;DR – The State of Fashion 2018 aims to look ahead and uncover the trends shaping the fashion industry in 2018. There are many challenges that have been facing by fashion industry over the past few years. Transparency (think: Everlane) is rapidly rising to the top of the younger generations’ demands of fashion companies. State of Fashion is a large-scale international fashion event that that is entirely devoted to sustainable fashion. .hide-if-no-js { With an overabundance of mobile payment solutions already available globally, consumers will expect fashion companies to cater for increasingly convenient mobile transactions. The Growing Charm of Online Shopping Fests, Covid-19 – How Cashless Payments Can Potentially Help Curb the Spread, Futurity – A Future for Industry and University in Malaysia, Moonshot: Ensuring the Success of STEM education for Malaysia’s Next Big Leap, National Regulatory Sandbox – Innovating and Futureproofing Malaysia, Hairi Zamzuri is Driving The Future of Malaysia with Autonomous Vehicles, South Africa: Industrialization and Transformation Key in Driving Provincial Economies, What Is #MYCYBERSALE & How It Can Benefit You. Due to an urgent and intense need for innovation across the industry, a growing number of fashion companies will aim to emulate the qualities of start-ups such as agility, collaboration and openness. Looking towards 2018, there is a new sense of optimism in an industry plagued by uncertainty. But the rebound is not being felt evenly across the globe. Off-Price Deception | The State of Fashion 2018 | The Business of Fashion by The Business of Fashion. The Report aims to; establish a common understanding of the forces impacting the industry, shed some clarity... GROWTH AHEAD. While The State of Fashion 2018 aims to look ahead and uncover the trends shaping the fashion industry in 2018, it is also important to take stock of some of the massive long-term changes that serve as a backdrop for everything that is happening. The West will no longer be the global stronghold for fashion sales. The first edition of this four-yearly event with the theme Searching for the new … The State of Fashion 2018 was created to provide a comprehen-sive view of the fashion industry. There also will have Globalization reboot. Not surprisingly, this is also reflected in fashion executives’ sentiments, as respondents from emerging markets are more optimistic about the industry’s outlook in 2018. The 10 trends shaping the global fashion industry in 2018. Looking towards 2018, expect a continued uptick in global fashion industry sales growth, while not yet reaching the sales growth level of 2015 (5 percent). The State of Skills in the Apparel Industry 2018 Report.