Just 20 Fashion Companies Are Making Almost All Of The Industry’s Profits
The global fashion business is becoming increasingly polarized. Take a look at the big players in the industry: On one side, you’ll find a handful of brands and retailers that, because of their scale, design, price, business model, or all of the above, generate the great majority of the industry’s profits. On the other side, pretty much everyone else. This snapshot comes from a report on the state of fashion in 2019, produced by consultancy McKinsey & Company and media outlet The Business of Fashion. McKinsey looked at more than 500 fashion companies—about 300 of which are publicly listed, the rest private but offering enough data that they could be included—spanning geographies, categories, and price segments. Across all those companies, McKinsey calculated that the top 20% made 128% of the total profit in 2017. Read more at Quartz.
