The Best of BoF 2023: Opportunities and Threats in Global Markets

BoF is away for its annual break until 2nd January. In the meantime, we invite you to explore highlights of our news and analysis from the year. ~/AAAHagA~/RgRna6U5P0SLaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tLz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fY29udGVudD1ib2ZfbG9nb1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~ WHAT YOU NEED TO KNOW TODAY: MONDAY, DECEMBER 25, 2023 Dear BoF Community, Fashion businesses operating in diverse markets across Asia, the Middle East, Latin America, Eastern Europe and Africa spent much of 2023 navigating a complex and delicate set of trade-offs. [In the key China market](~/AAAHagA~/RgRna6U5P0TTaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2NoaW5hL2hvdy13b3JyaWVkLXNob3VsZC1mYXNoaW9uLWJlLWFib3V0LWNoaW5hcy13ZWFrZW5lZC1lY29ub215Lz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fY29udGVudD1pbnRyb1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~), global brands wrestled with a post-pandemic recovery that failed to meet expectations. Refining their expansion plans, luxury players turned to underserved pockets of wealth such as Shenzhen, the centre of “China’s Silicon Valley”, to capture growth. Meanwhile, Dior’s landmark show in Mumbai signalled [India as a bright spot](~/AAAHagA~/RgRna6U5P0TaaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL21hcmtldC1hbmFseXNpcy1pcy10aGlzLWx1eHVyeXMtd2F0ZXJzaGVkLW1vbWVudC1pbi1pbmRpYS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) and the inaugural edition of Riyadh Fashion Week confirmed [Saudi Arabia as an investment destination](~/AAAHagA~/RgRna6U5P0TLaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL3doeS1mYXNoaW9uLWlzLWJldHRpbmctYmlnLW9uLXNhdWRpLWFyYWJpYS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~). In a year that saw war persist in Ukraine and erupt in the Middle East, fashion brands added [“friendshoring”](~/AAAHagA~/RgRna6U5P0S9aHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2JyaWVmaW5ncy9jaGluYS93aGF0LWZyaWVuZHNob3JpbmctbWVhbnMtZm9yLWZhc2hpb24vP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV9jb250ZW50PWludHJvVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) to existing nearshoring strategies to reduce the risk of supply chain disruptions amid rising geopolitical tensions. But the early beneficiaries of this shift, including fast fashion manufacturers in Bangladesh and Mexico, have faced challenges of their own. [In Japan](~/AAAHagA~/RgRna6U5P0TdaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL3doeS1sdXh1cnktZ2lhbnRzLWFyZS1vYnNlc3NlZC13aXRoLXNtYWxsLWphcGFuZXNlLXN1cHBsaWVycy8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~), luxury giants like LVMH, Hermès and Gucci strengthened their ties with the country’s centuries-old artisanal producers. Market volatility kept many fashion executives on their toes this year but none more so than in countries like [Argentina](~/AAAHagA~/RgRna6U5P0TLaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL2hvdy10by1zdXJ2aXZlLWFyZ2VudGluYXMtcGVycGV0dWFsLWNyaXNpcy8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) where they had to survive the country’s so-called “perpetual crisis”. Entrepreneurs have overcome challenging conditions elsewhere too, like the founders of scrappy start-ups in [Kenya, Nigeria, Senegal and South Africa](~/AAAHagA~/RgRna6U5P0TBaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL2FmcmljYW4tc25lYWtlci1icmFuZHMtZ28tZ2xvYmFsLz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fY29udGVudD1pbnRyb1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) battling for a share of the global sneaker market. Fashion’s celebrity marketing playbook also came into its own as global brands looked beyond the traditional entertainment epicentres of Hollywood, Bollywood and Nollywood, signed reggaeton [singers from Colombia](~/AAAHagA~/RgRna6U5P0TxaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL21hcmtldGluZy1wci9rYXJvbC1nLWxhdW5jaC1ib2YtNTAwLWNsYXNzLW9mLTIwMjMtY292ZXItc3RhcnMtZmFzaGlvbi1pbmR1c3RyeS1tb2RlbHMtYW5kLW11c2VzLz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fY29udGVudD1pbnRyb1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~), [actors from Thailand](~/AAAHagA~/RgRna6U5P0TUaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL3doeS10aGFpLWNlbGVicml0aWVzLWFyZS1mYXNoaW9ucy1uZXctcG93ZXItcGxheWVycy8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) and — as their influence on social media reached new heights — more [K-pop stars from South Korea](~/AAAHagA~/RgRna6U5P0TmaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3BvZGNhc3RzL2dsb2JhbC1tYXJrZXRzL3RoZS1ib2YtcG9kY2FzdC1oYWxseXUtaG93LXRoZS1rb3JlYW4td2F2ZS1pcy1zd2VlcGluZy1nbG9iYWwtY3VsdHVyZS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) than ever. It has been an extraordinary if unsettling run-up to 2024. Robb Young, Global Markets Editor BoF is away for its annual break until Jan. 2. In the meantime, we invite you to explore the best of our global markets news and analysis from the past year. To read more of BoF’s global markets analysis, [click here](~/AAAHagA~/RgRna6U5P0SeaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9nbG9iYWwtbWFya2V0cy8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX2NvbnRlbnQ9aW50cm9XBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~). TOP STORIES [CHINA](~/AAAHagA~/RgRna6U5P0TEaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9jaGluYT91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fdGVybT1HRVQ1RVFVU0JCSFZWSjJGRkNBRVBaTTJENCZ1dG1fY29udGVudD10b3Bfc3RvcnlfMV90b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [How Worried Should Fashion Be About China’s Weakened Economy?](~/AAAHagA~/RgRna6U5P4QDAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9jaGluYS9ob3ctd29ycmllZC1zaG91bGQtZmFzaGlvbi1iZS1hYm91dC1jaGluYXMtd2Vha2VuZWQtZWNvbm9teS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09R0VUNUVRVVNCQkhWVkoyRkZDQUVQWk0yRDQmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzFfdGl0bGVXBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) By Tiffany Ap ~/AAAHagA~/RgRna6U5P4QDAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9jaGluYS9ob3ctd29ycmllZC1zaG91bGQtZmFzaGlvbi1iZS1hYm91dC1jaGluYXMtd2Vha2VuZWQtZWNvbm9teS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09R0VUNUVRVVNCQkhWVkoyRkZDQUVQWk0yRDQmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzFfaW1hZ2VXBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~ [As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.](~/AAAHagA~/RgRna6U5P4QBAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9jaGluYS9ob3ctd29ycmllZC1zaG91bGQtZmFzaGlvbi1iZS1hYm91dC1jaGluYXMtd2Vha2VuZWQtZWNvbm9teS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09R0VUNUVRVVNCQkhWVkoyRkZDQUVQWk0yRDQmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzFfZGVrVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) [READ MORE](~/AAAHagA~/RgRna6U5P4QBAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9jaGluYS9ob3ctd29ycmllZC1zaG91bGQtZmFzaGlvbi1iZS1hYm91dC1jaGluYXMtd2Vha2VuZWQtZWNvbm9teS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09R0VUNUVRVVNCQkhWVkoyRkZDQUVQWk0yRDQmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzFfY3RhVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) [GLOBAL MARKETS](~/AAAHagA~/RgRna6U5P0TNaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9nbG9iYWwtbWFya2V0cz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fdGVybT1PQzdMQVJRRlU1RlBUSE5IUUkzREZOMlVPQSZ1dG1fY29udGVudD10b3Bfc3RvcnlfMl90b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [Market Analysis: Is This Luxury’s Watershed Moment in India?](~/AAAHagA~/RgRna6U5P4QKAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy9tYXJrZXQtYW5hbHlzaXMtaXMtdGhpcy1sdXh1cnlzLXdhdGVyc2hlZC1tb21lbnQtaW4taW5kaWEvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPU9DN0xBUlFGVTVGUFRITkhRSTNERk4yVU9BJnV0bV9jb250ZW50PXRvcF9zdG9yeV8yX3RpdGxlVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) By Arnika Thakur ~/AAAHagA~/RgRna6U5P4QKAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy9tYXJrZXQtYW5hbHlzaXMtaXMtdGhpcy1sdXh1cnlzLXdhdGVyc2hlZC1tb21lbnQtaW4taW5kaWEvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPU9DN0xBUlFGVTVGUFRITkhRSTNERk4yVU9BJnV0bV9jb250ZW50PXRvcF9zdG9yeV8yX2ltYWdlVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk [Brands like Dior and Valentino are banking on India’s high growth potential, but it will take more than dazzling shows and sleek stores to compete with local designers and turn this complex market into a major revenue source.](~/AAAHagA~/RgRna6U5P4QIAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy9tYXJrZXQtYW5hbHlzaXMtaXMtdGhpcy1sdXh1cnlzLXdhdGVyc2hlZC1tb21lbnQtaW4taW5kaWEvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPU9DN0xBUlFGVTVGUFRITkhRSTNERk4yVU9BJnV0bV9jb250ZW50PXRvcF9zdG9yeV8yX2Rla1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [READ MORE](~/AAAHagA~/RgRna6U5P4QIAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy9tYXJrZXQtYW5hbHlzaXMtaXMtdGhpcy1sdXh1cnlzLXdhdGVyc2hlZC1tb21lbnQtaW4taW5kaWEvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPU9DN0xBUlFGVTVGUFRITkhRSTNERk4yVU9BJnV0bV9jb250ZW50PXRvcF9zdG9yeV8yX2N0YVcFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [CHINA](~/AAAHagA~/RgRna6U5P0TEaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9jaGluYT91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fdGVybT1QTkRXV08yQ1JGQUhCSFlaUDVWNE0zTkJRWSZ1dG1fY29udGVudD10b3Bfc3RvcnlfM190b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [What ‘Friendshoring’ Means for Fashion](~/AAAHagA~/RgRna6U5P0TtaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2JyaWVmaW5ncy9jaGluYS93aGF0LWZyaWVuZHNob3JpbmctbWVhbnMtZm9yLWZhc2hpb24vP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPVBORFdXTzJDUkZBSEJIWVpQNVY0TTNOQlFZJnV0bV9jb250ZW50PXRvcF9zdG9yeV8zX3RpdGxlVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) By Tiffany Ap ~/AAAHagA~/RgRna6U5P0TtaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2JyaWVmaW5ncy9jaGluYS93aGF0LWZyaWVuZHNob3JpbmctbWVhbnMtZm9yLWZhc2hpb24vP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPVBORFdXTzJDUkZBSEJIWVpQNVY0TTNOQlFZJnV0bV9jb250ZW50PXRvcF9zdG9yeV8zX2ltYWdlVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk [Western brands shifting supply chains away from China hope to reduce disruptions caused by geopolitical tensions but ‘friendlier’ sourcing hubs aren’t always feasible.](~/AAAHagA~/RgRna6U5P0TraHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2JyaWVmaW5ncy9jaGluYS93aGF0LWZyaWVuZHNob3JpbmctbWVhbnMtZm9yLWZhc2hpb24vP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPVBORFdXTzJDUkZBSEJIWVpQNVY0TTNOQlFZJnV0bV9jb250ZW50PXRvcF9zdG9yeV8zX2Rla1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [READ MORE](~/AAAHagA~/RgRna6U5P0TraHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2JyaWVmaW5ncy9jaGluYS93aGF0LWZyaWVuZHNob3JpbmctbWVhbnMtZm9yLWZhc2hpb24vP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPVBORFdXTzJDUkZBSEJIWVpQNVY0TTNOQlFZJnV0bV9jb250ZW50PXRvcF9zdG9yeV8zX2N0YVcFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [GLOBAL MARKETS](~/AAAHagA~/RgRna6U5P0TNaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9nbG9iYWwtbWFya2V0cz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fdGVybT1EUkRVUjdYTEhWR1VMUFE0VTJMNEU0WU1SSSZ1dG1fY29udGVudD10b3Bfc3RvcnlfNF90b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [Why Fashion Is Betting Big on Saudi Arabia](~/AAAHagA~/RgRna6U5P0T7aHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL3doeS1mYXNoaW9uLWlzLWJldHRpbmctYmlnLW9uLXNhdWRpLWFyYWJpYS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09RFJEVVI3WExIVkdVTFBRNFUyTDRFNFlNUkkmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzRfdGl0bGVXBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) By Rohma Theunissen [The kingdom is set to drive growth for the industry as its economy booms, social reforms reshape consumer culture and futuristic cities sprout from the desert.](~/AAAHagA~/RgRna6U5P0T5aHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL3doeS1mYXNoaW9uLWlzLWJldHRpbmctYmlnLW9uLXNhdWRpLWFyYWJpYS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09RFJEVVI3WExIVkdVTFBRNFUyTDRFNFlNUkkmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzRfZGVrVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) [READ MORE](~/AAAHagA~/RgRna6U5P0T5aHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL2FydGljbGVzL2dsb2JhbC1tYXJrZXRzL3doeS1mYXNoaW9uLWlzLWJldHRpbmctYmlnLW9uLXNhdWRpLWFyYWJpYS8_dXRtX3NvdXJjZT1uZXdzbGV0dGVyX2RhaWx5ZGlnZXN0JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5X0RpZ2VzdF8yNTEyMjMmdXRtX3Rlcm09RFJEVVI3WExIVkdVTFBRNFUyTDRFNFlNUkkmdXRtX2NvbnRlbnQ9dG9wX3N0b3J5XzRfY3RhVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) [GLOBAL MARKETS](~/AAAHagA~/RgRna6U5P0TNaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9nbG9iYWwtbWFya2V0cz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fdGVybT1FWVdJSElORzVWR0dES0JJTEVaVU1VTldTSSZ1dG1fY29udGVudD10b3Bfc3RvcnlfNV90b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [Why Luxury Giants Are Obsessed With Small Japanese Suppliers](~/AAAHagA~/RgRna6U5P4QNAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy93aHktbHV4dXJ5LWdpYW50cy1hcmUtb2JzZXNzZWQtd2l0aC1zbWFsbC1qYXBhbmVzZS1zdXBwbGllcnMvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPUVZV0lISU5HNVZHR0RLQklMRVpVTVVOV1NJJnV0bV9jb250ZW50PXRvcF9zdG9yeV81X3RpdGxlVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) By Zoe Suen [Companies like LVMH, Hermès and Gucci are strengthening ties with Japan’s artisanal producers to tap exclusive materials and ancient techniques.](~/AAAHagA~/RgRna6U5P4QLAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy93aHktbHV4dXJ5LWdpYW50cy1hcmUtb2JzZXNzZWQtd2l0aC1zbWFsbC1qYXBhbmVzZS1zdXBwbGllcnMvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPUVZV0lISU5HNVZHR0RLQklMRVpVTVVOV1NJJnV0bV9jb250ZW50PXRvcF9zdG9yeV81X2Rla1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [READ MORE](~/AAAHagA~/RgRna6U5P4QLAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy93aHktbHV4dXJ5LWdpYW50cy1hcmUtb2JzZXNzZWQtd2l0aC1zbWFsbC1qYXBhbmVzZS1zdXBwbGllcnMvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPUVZV0lISU5HNVZHR0RLQklMRVpVTVVOV1NJJnV0bV9jb250ZW50PXRvcF9zdG9yeV81X2N0YVcFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [GLOBAL MARKETS](~/AAAHagA~/RgRna6U5P0TNaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3RvcGljcy9nbG9iYWwtbWFya2V0cz91dG1fc291cmNlPW5ld3NsZXR0ZXJfZGFpbHlkaWdlc3QmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249RGFpbHlfRGlnZXN0XzI1MTIyMyZ1dG1fdGVybT1HUFlDRjZJN0ZWR0VSSDNNVEFYTlg1MjdTUSZ1dG1fY29udGVudD10b3Bfc3RvcnlfNl90b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [Why Thai Celebrities Are Fashion’s New Power Players](~/AAAHagA~/RgRna6U5P4QEAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy93aHktdGhhaS1jZWxlYnJpdGllcy1hcmUtZmFzaGlvbnMtbmV3LXBvd2VyLXBsYXllcnMvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPUdQWUNGNkk3RlZHRVJIM01UQVhOWDUyN1NRJnV0bV9jb250ZW50PXRvcF9zdG9yeV82X3RpdGxlVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) By Tiffany Ap [Global luxury brands are signing celebrity ambassadors from Thailand to tap into rising local demand and leverage the stars’ growing appeal across the wider Asia region.](~/AAAHagA~/RgRna6U5P4QCAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy93aHktdGhhaS1jZWxlYnJpdGllcy1hcmUtZmFzaGlvbnMtbmV3LXBvd2VyLXBsYXllcnMvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPUdQWUNGNkk3RlZHRVJIM01UQVhOWDUyN1NRJnV0bV9jb250ZW50PXRvcF9zdG9yeV82X2Rla1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [READ MORE](~/AAAHagA~/RgRna6U5P4QCAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9hcnRpY2xlcy9nbG9iYWwtbWFya2V0cy93aHktdGhhaS1jZWxlYnJpdGllcy1hcmUtZmFzaGlvbnMtbmV3LXBvd2VyLXBsYXllcnMvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPUdQWUNGNkk3RlZHRVJIM01UQVhOWDUyN1NRJnV0bV9jb250ZW50PXRvcF9zdG9yeV82X2N0YVcFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [BoF PROFESSIONAL Join now and enjoy your first 30 days for just $/£/€1](~/AAAHagA~/RgRna6U5P0SoaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL21lbWJlcnNoaXBzL3BhY2thZ2VzP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV9jb250ZW50PWJvZnByb19tb2R1bGVfY3RhVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) [START TRIAL](~/AAAHagA~/RgRna6U5P0SoaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL21lbWJlcnNoaXBzL3BhY2thZ2VzP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV9jb250ZW50PWJvZnByb19tb2R1bGVfY3RhVwVzcGNldUIKZYQ5IIllqEqd9VIbdHJpc3RyYW1iYWxkd2luOTBAZ21haWwuY29tWAQAAAAk) MULTIMEDIA [PODCAST](~/AAAHagA~/RgRna6U5P0TBaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3BvZGNhc3RzP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPVNJU1c3NkZLRVZHT0RBNkVaSUtXQlBTNkZZJnV0bV9jb250ZW50PW11bHRpbWVkaWFfMV90b3BpY1cFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) [The BoF Podcast | Hallyu: How the Korean Wave Is Sweeping Global Culture](~/AAAHagA~/RgRna6U5P4QXAWh0dHBzOi8vd3d3LmJ1c2luZXNzb2ZmYXNoaW9uLmNvbS9wb2RjYXN0cy9nbG9iYWwtbWFya2V0cy90aGUtYm9mLXBvZGNhc3QtaGFsbHl1LWhvdy10aGUta29yZWFuLXdhdmUtaXMtc3dlZXBpbmctZ2xvYmFsLWN1bHR1cmUvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV90ZXJtPVNJU1c3NkZLRVZHT0RBNkVaSUtXQlBTNkZZJnV0bV9jb250ZW50PW11bHRpbWVkaWFfMV90aXRsZVcFc3BjZXVCCmWEOSCJZahKnfVSG3RyaXN0cmFtYmFsZHdpbjkwQGdtYWlsLmNvbVgEAAAAJA~~) By BoF Team 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From economic and geopolitical pressures to the intensifying climate crisis, fashion leaders must approach 2024 with caution, whilst zeroing in on opportunities such as generative AI for growth and innovation. Download the eighth edition of our highly-anticipated annual report produced in partnership with McKinsey & Company for free now. [DOWNLOAD NOW](~/AAAHagA~/RgRna6U5P0TUaHR0cHM6Ly93d3cuYnVzaW5lc3NvZmZhc2hpb24uY29tL3JlcG9ydHMvbmV3cy1hbmFseXNpcy90aGUtc3RhdGUtb2YtZmFzaGlvbi0yMDI0LXJlcG9ydC1ib2YtbWNraW5zZXkvP3V0bV9zb3VyY2U9bmV3c2xldHRlcl9kYWlseWRpZ2VzdCZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1EYWlseV9EaWdlc3RfMjUxMjIzJnV0bV9jb250ZW50PXNwb25zb3JlZF9jdGFXBXNwY2V1QgplhDkgiWWoSp31Uht0cmlzdHJhbWJhbGR3aW45MEBnbWFpbC5jb21YBAAAACQ~) The Business of Fashion AGENDA-SETTING INTELLIGENCE, ANALYSIS AND ADVICE FOR THE GLOBAL FASHION COMMUNITY. 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