How many items of clothing did you buy during the COVID-19 shutdown? With an estimated $640 billion in lost sales, and shifts in customer behavior wrought by the pandemic, the fashion industry will not – and should not – return to business as usual. Some would say that’s a good thing. Upheaval might lead to more sustainable, environmentally friendly, socially responsible enterprises. But to really right the boat, the fashion industry must implement even broader changes. In this report, the Boston Consulting Group outlines an actionable plan for the ailing fashion industry.
About the Authors
Filippo Bianchi, Pierre Dupreelle, Felix Krueger, Javier Seara, Drake Watten, and Sarah Willersdorf are professionals with the Boston Consulting Group: a global management consulting firm.