Together with McKinsey & Company, The Business of Fashion and ICON, the Fashion Council Germany presented “The State of Fashion 2020” report at Hotel ZOO Berlin. “The State of Fashion” is published annually by McKinsey & Company and The Business of Fashion and provides an overview of developments and trends in the international fashion industry. The FCG initiated the event in order to see the results and forecasts obtained onto the German market.
Dr. Achim Berg (Senior Partner and Global Leader of McKinsey & Company’s Apparel, Fashion and Luxury Group) forecasts for the German market: “In the German market it is becoming increasingly difficult for mid-sized companies to survive in the fashion industry. Brands that no longer meet all customer demands are among the companies that lose the most value. It has never been so easy for German customers to find alternative offers for traditional clothing brands”.
After the guests were welcomed by Mandie Bienek (FCG Chairman), Ramona Pop (Mayor and Senator for Economics, Energy and Business) pointed out the creative relevance of Berlin as a business location: “Berlin stands for freedom, creativity and innovation. As a cosmopolitan and culturally diverse metropolis, the capital attracts creative people and talents from all over the world. Berlin’s fashion scene is a barometer for ideas and innovative concepts. Companies that are courageous and visionary, that take a step by step approach and pay attention to the topic of sustainability are also well positioned for the future”.
Dr. Achim Berg and Nick Blunden discussed the implications of the report results for the German fashion market in the subsequent panel talk with Christiane Arp (VOGUE Germany), Inga Griese (ICON) and Javier Goyeneche (Ecoalf).
You can find the report “State of Fashion 2020” here.