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Open in new windowDisruptive technologies in the workplace generally fall into three categories: those that enhance existing skills while creating new ones, those that replace skills while reducing the need for others, and those that fall somewhere in between. So where does generative artificial intelligence, one of the most talked-about technologies of 2023, fit in? For creative teams in the fashion industry, the year ahead may help find the answer.Gen AI is an algorithm that can be pre-trained on large amounts of data, such as text, images, and code, and often fine-tuned with other company data to create new, complex…
Open in new windowFast fashion accelerated in 2023. Following in the footsteps of e-commerce giant and market leader Shein, a group of challengers have upended the competitive landscape by producing fashion faster and cheaper than before. First-generation fast-fashion giants such as H&M and Zara, who introduced the concept of trendy runway-inspired fashion at affordable prices, have been challenged before by second-generation digital-first fast-fashion companies such as Asos and Boohoo. Now, third-generation companies are emerging. Among the rising players is Temu, a marketplace owned by China-based PDD Holdings. Just a few months after launch, the company overtook Amazon as the most…
If you purchase something through links in this article, we may earn a commission.1Topshop faux feather mini dressNothing says party quite like a feather-filled look, and we’re obsessed with this bright red mini from Topshop. With its open back and spaghetti straps, this babe is flapper-girl chic in every sense of the word. 2Nobody’s Child Petite Silver Metallic Vienna Mini DressIt’s no secret that silver is this year’s trend color, and the metallic trend isn’t going away anytime soon. I can’t wait to style this Nobody’s Child dress with an oversized headband and Mary Janes this party season. 3Topshop Embellished…
If you purchase something through links in this article, we may earn a commission.Mejuri Bold Pearl HuggiesThis insider-favorite brand specializes in modern jewelry designs that look much more expensive than they actually are. Good Squish Stallion Bridget Jones ScrunchieWell, is this the perfect festive hair accessory?!?!? We think so.& Other Stories Rhinestone Stud Clutch BagIt’s like giving the gift of Paco Rabanne, but at a much more affordable price. Paco Rabanne is coming to you on New Year’s Eve! ADVERTISEMENT – CONTINUE READING BELOWSkims Long Sleeve DressEveryone should have a classic black long sleeve dress in their wardrobe and this…
opens in new windowConsumers around the world are embracing travel with new enthusiasm in the wake of the COVID-19 pandemic. Despite cost-of-living pressures and economic uncertainty, global travel flows (calculated as the total number of kilometers traveled by airfare-paying passengers) will return to 100 percent of pre-pandemic levels in 2023. It is predicted to reach 105% to 110%. According to McKinsey analysis, in 2024Fundamental changes in lifestyle in recent years have fueled this increase. For example, remote and hybrid work is even more here to stay than it was before the pandemic. More and more workers are no longer tied…
“Isn’t it wonderful?!” On an unseasonably warm fall afternoon in New York City, Kelly Goff walks through the parts of her Manhattan apartment, a closet-cum-office unit called CL Office. An accomplished journalist and screenwriter, Goff is equipped with standard office essentials. But the rest of the space is filled with her extensive vintage clothing collection, a collection of more than 100 pieces by Black American designers. “Awesome,” Goff told us, is a crisp leopard-print jumpsuit by Patrick Kelly. The designer, known for his bold, colorful designs worn by muses such as Pat Cleveland and Grace Jones, died in 1990 at…
The TV scriptwriter (wearing a ’70s Stephen Burrows gown) and some of the vintage collection in her “CL office.” Cinematography: Nina Westervelt “Isn’t that wonderful?!” It’s an unseasonably warm fall afternoon in New York, and Keri Goff is showing THR the pieces of her “cl-office,” a converted closet and office in a Manhattan apartment. A trained journalist and screenwriter, Goff has stocked the room with standard office essentials. But the rest of the space is filled with her vast collection of vintage clothing; specifically, more than 100 pieces by black American designers. One “amazing” piece Goff describes is a breezy…
A chambray men’s dress shirt stands out against a light blue background. Fashion is fun, as anyone who’s seen a makeover scene in an ’80s movie knows all too well. Trying on, buying and keeping clothes for different moods fulfills complex human needs not just for consumption, but for comfort and personal expression. Meet and engage directly with McKinsey’s senior experts on fast fashion Anita Balchandani is a senior partner in McKinsey’s London office, Achim Berg is a senior partner in the Frankfurt office, Gemma D’Auria is a senior partner in the Milan office, Clarice Magnen-Marez is a senior partner…
A quick scroll through Instagram may point you to the latest trends and noteworthy brands, but to get a deeper insight into fashion’s rich history, it’s best to read a book on the subject. Many fashion books feature beautiful imagery, but they also take you into the world of your favorite designers, help you on your personal style journey, or touch upon a small part of the industry you most enjoy. (If you have a niche, there’s probably a book about it.) This year, there were a ton of industry-related releases, like Sunita Kumar Nair’s homage to Carolyn Bassett-Kennedy and…
Despite the dark clouds, recent experience shows how the fashion industry will weather the challenges ahead. In 2022, the fashion industry again proved resilient, nearly matching the record economic profits of 2021, according to the McKinsey Global Fashion Index. Following the pattern of the previous year, the luxury sector performed well, with economic profits increasing by 36%, offsetting weakness in other sectors. But even non-luxury sectors outperformed their long-term averages. Strong margins meant that the fashion industry achieved more than double the economic profits in 2022 compared to all but one year between 2011 and 2020. In 2023, the industry…