The global fashion trade’s revenue is predicted to fall by ninety three {2268a52ebcceb644a40eef6c14feb43848ebdba7cb1a45abc08c92d69c571dc2} in 2020. The sober temper amongst fashion executives surveyed in last 12 months’s report has developed over recent months into a powerful determination to handle the business by way of the COVID-19 pandemic. Our calculations, based on the modifications in market capitalizations over time in our index on world fashion, suggest that the business’s financial profit will fall by ninety three percent in 2020 after rising four percent in 2019 . That translates into a significant improve in the number of firms that are “value destroyers,” which we expect will rise to seventy three p.c of those in the index in 2020, compared with 60 p.c in 2019. Those are a few of the findings from our newest report, The State of Fashion 2021, written in partnership with the Business of Fashion .
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