State of Fashion 2022: An uneven recovery and new frontiers
Battered by COVID-19 lockdowns, the fashion industry showed signs of revival in mid-2021. While luxury brands and comfort wear thrived, many companies faced bankruptcy and leadership shifts. China's domestic market, boosted by local shopping and luxury spending, recovered faster. Overall, the industry is expected to reach pre-pandemic sales levels by 2022, driven by the US and China, but the recovery will be uneven with some companies faring better than others.