The global fashion industry faces a bumpy road ahead. Not only they
have to figure out their own logistics conundrums but to reinvent the
supply chain, re-connect with consumers and make up for double-digit
decline in revenues.
At a global level, the fashion industry posted a 20 percent decline in
revenues in the 2019–20 period, with margins for earnings before
interest, taxes, and amortization (EBITA) dropping almost 4 percent to
6.8 percent, as indicated in the latest edition of McKinsey State of
the Fashion Report.
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