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Fashion industry’s profits hemmed in by the COVID-19 pandemic

The fashion industry’s economic profit rose year-on-year by 4 percent in 2019. Our calculations suggest that it will fall by 93 percent this year, according to our latest State of Fashion report, written in partnership with the Business of Fashion.

Global fashion industry profit rises from 2016 to 2019, then drops 93% in 2020.

To read the report, see “The State of Fashion 2021: In search of promise in perilous times,” December 1, 2020.