What is new is that the absolute luxury segment is accelerating alongside affordable luxury. But the rebound is not being felt evenly across the globe. Looking towards 2018, there is a new sense of optimism in an industry plagued by uncertainty. Transparency (think: Everlane) is rapidly rising to the top of the younger generations’ demands of fashion companies. 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. But the rebound is not being felt evenly across the globe. Startup Thinking | The State of Fashion 2018 | The Business of Fashion 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. Our Client was looking to increase their tradeshow and boutique ship rate and better service their existing 5,000+ customer base. These developments take place at the same time as the fashion industry is undergoing other transformative shifts. Brands Can’t Confidently Say No. Off-Price Deception | The State of Fashion 2018 | The Business of Fashion by The Business of Fashion. 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 … Furthermore, people nowadays are mobile obsessed. the project. Such as, AI gets real. 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 West will no longer be the global stronghold for fashion sales. Its primary objective remains to outline the interconnection of the entire … The question for fashion brands is no longer “if” but “how” to collaborate with big online platforms. The year 2018, the global economy will show things that unimaginable for fashion business. 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. 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. 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. ... State of Fashion … The consumer in 2018 will also show some changes, such as getting personal. Similarly, we expect the move away from the middle to benefit players in the value and discount segments. 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 … Other than that, there will also have start-up thinking. In fact, 2017 signals the end of an era. This outlook varies across value segments too. 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. … 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. Site Map The client is a leading wholesale Fast FASHION brand from los angeles who attends 10+ tradeshow events per year. Things are looking up, but the rebound may be uneven, says this year’s The State of Fashion 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. Looking towards 2018, there is a new sense of optimism in an industry plagued by uncertainty. Tickets can be reserved via stateoffashion.org. © 2020 The Business of Fashion. The State of Fashion 2018. In 2018 we expect this development to continue across all regions. There are many challenges that have been facing by fashion industry over the past few years. There also will have Globalization reboot. The affordable luxury expects luxury to continue at strong 3.5 to 4.5 percent growth. The global fashion industry is on track for continued growth in 2018. And while “uncertain” and “challenging” remain the most common words that executives in … The 10 trends shaping the global fashion industry in 2018… 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. 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 fashion industry is turning a corner. State of Fashion is a large-scale international fashion event that that is entirely devoted to sustainable fashion. The fashion industry is going through a seismic shift. The West will no longer be the global stronghold for fashion sales. In fact, 2017 signals the end of an era. 10. 0:42. 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. 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. Be among the first to receive news from eMAG! 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. Video: The State of Fashion 2018. 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. This download is only available to registered users. As consumer values coalesce around authenticity and individuality, brands will value data even more to tailor recommendations, engage influences and personalize experiences. 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. There also sustainability credibility. Despite the rise of nationalism, isolationist rhetoric and re shoring, globalization will not stall. The Report aims to; establish a common understanding of the forces impacting the industry, shed some clarity... GROWTH AHEAD. fashiontv. 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. The fashion industry is turning a corner. Fashion business should predictably unpredictable. Personalisation and curation will become more important to the customer. The motto of this edition: "Fashion needs to change, we all know it. 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). Alongside consumers’ adoption of digital are raised expectations of customer experience and a higher scrutiny on convenience, price, quality, newness and a personal touch. The 10 trends shaping the global fashion industry in 2018. The project industry sales growth of 3.5 to 4.5 percent in 2018. 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. The State Of Fashion 2018. Are These Fashions Linked to Forced Labour? Download the full report to explore the 10 themes which will define the global fashion … 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 off price channel is expected to grow across European and Asian markets. join us in our search for … 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. TL;DR – The State of Fashion 2018 aims to look ahead and uncover the trends shaping the fashion industry in 2018. If … The State of Skills in the Apparel Industry 2018 Report. All rights reserved. AI enhancements will go beyond the traditional areas of machine tasks into creative and customer interaction processes, blurring the line between technology and creativity. In Q4 2018, 20 companies still held 97% of economic profit in the … Source: BoF, YouTube. The State of Fashion 2018 | BOF & McKinsey – was created to provide a comprehensive view of the fashion industry. Besides that, platforms first will attract more customers. For more information read our Terms & Conditions and Privacy Policy. 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. 2018 will be a watershed year in fashion, when Asia comes into its own … 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. 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. The fashion industry is turning a corner. We forecast particularly strong growth of 4 to 5 percent in the discount segment for 2018, continuing its strong trajectory from 2017. 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. Other than that, Asian trailblazers. The State Of Fashion 2017. 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. The State of Fashion 2018 was created to provide a comprehensive view of the fashion industry. In the US and in the luxury sector it will be a year of optimism; for … 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. Website showcasing the theme for the 2018 edition of State of Fashion, starting June 1 2018 in Arnhem. Friday 1 June imagination ... Stichting Sonsbeek & State of Fashion Bovenbeekstraat 21 6811 CV Arnhem … Consumers will increasingly look to online platforms as the first point of search, attracted by their convenience, relevance and breadth of offering. Should Retailers Weigh in on Social or Political Issues? The McKinsey Global Fashion Index forecasts industry sales growth to … display: none !important; Looking towards 2018, there is a new sense of optimism in an industry plagued by uncertainty. Its database of over 500 private and public companies allows … But how? By FashionUnited. 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. We know we have serious skill and talent gaps within apparel organizations – the last … ‘State of Fashion 2018: searching for the new luxury’ will take place from June 1 st to July 22 nd, 2018. As consumers’ obsession with mobile grows, the end-to-end transaction will also likely move to mobile. 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 … When asked in the BoF … fashion market. 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. 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. 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. The State of Skills in the Apparel Industry 2018 Report. Source: BoF, YouTube . Fashion companies will deliver personalisation in many forms — from more-customised products, to curated recommendations, to communications and storytelling that connects to individuals. }. There is general agreement that 2016 was one of the most challenging years the fashion industry has ever seen. 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. Fashion Colloquium | Searching for the New Luxury | State of Fashion 2018 Register now for free. It will be a year of awakening after the reckoning of 2018 — a time for looking at opportunities, not just challenges. 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 fashion companies that flourish will re-focus on their strengths. The full programme and participants can now be found … 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 State of Fashion 2018 | Australia THE REPORT. 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. 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