Skip to main content
BoF Logo

Agenda-setting intelligence, analysis and advice for the global fashion community.

The State of Fashion 2025: Challenges at Every Turn

The ninth annual State of Fashion report by McKinsey & Company and BoF Insights, The Business of Fashion’s data and advisory team, reveals that economic and geopolitical challenges, combined with shifts in customer values, will define a turbulent year ahead. Download the full report to understand the 10 themes that will shape the industry and the opportunities for growth in 2025.
Front cover of The State of Fashion 2025
Illustration by Marie Victoire de Bascher for BoF. (Marie Victoire de Bascher)
Loading...

Though hard to predict even in the best of times, the fashion industry is in for a particularly tumultuous and uncertain 2025. A long-feared cyclical slowdown has arrived. Consumers, scarred by the recent period of high inflation, are increasingly price sensitive. There is also the surprising rise of dupes, the acceleration of climate change and the continued reshuffling of global trade. Regional differences, which came into focus in 2024, will become even starker in the coming year.

Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.

Loading...

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from News & Analysis
Fashion News, Analysis and Business Intelligence from the leading digital authority on the global fashion industry.
view more
Latest News & Analysis
Unrivalled, world class journalism across fashion, luxury and beauty industries.

Who Won Fashion’s Red Carpet Season of Change

Sunday night’s Oscars concluded an awards season that fashion’s biggest labels used to show off their new creative game. BoF breaks down what we learned about brands’ celebrity strategies.


VIEW MORE
Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON