Affordable-luxury players benefited from consumers trading down from luxurious, particularly among Chinese consumers. However, their revenue margins are anticipated to decline, particularly after 2016, because of a pricing-arbitrage drawback throughout geographies and fluctuating foreign-exchange rates. Download The State of Fashion 2019, the total report on which this text relies (PDF–3 MB). The report includes the third readout of our trade benchmark, the McKinsey Global Fashion Index.
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