The beauty industry continues to thrive, unveiling a multitude of new brands and products in 2024. This year witnessed a substantial number of luxury fashion brands plunging into the beauty market, largely due to their expectation of growth in this category. With names like Celine launching its makeup line and Balmain hinting at a cosmetics […]
The 10 Themes That Will Define the Fashion Agenda in the Year Ahead
As we step into the new year, the fashion industry finds itself grappling with a spectrum of uncertainties. Insights from the BoF-McKinsey State of Fashion 2025 Executive Survey reveal that just 20% of fashion leaders predict improvements in market conditions, while 39% foresee a decline. This level of unpredictability sets the stage for several critical […]
The Best of BoF 2024: Finding Technology’s Value
As we close the chapter on 2024, it’s clear that the conversation around technology—particularly artificial intelligence (AI)—has shifted dramatically. Gone are the days of simple excitement over the novelty of generative AI; instead, brands and retailers are now grappling with pressing questions about its practical applications and long-term viability. This year served as a critical […]
Worldview: Debunking China’s Consumption Myths
In recent discussions surrounding China’s economy, prevalent myths about consumer behavior have surfaced, leading to misinformed conclusions about the market’s future potential. A new analysis by McKinsey & Company sheds light on the real state of consumption in China, revealing both challenges and hidden opportunities. Daniel Zipser, a senior partner based in McKinsey’s Shanghai office, […]
What Luxury ‘Dupe’ Brands Get Right About Shoppers
In today’s marketplace, a distinct trend is gaining momentum: the rise of “dupe” brands that deliver affordable versions of luxury styles. Brands like Quince and Italic are stepping into a space that directly appeals to middle-class consumers, providing quality products made in the same factories as their high-end counterparts. As consumer preferences shift amid a […]