Gemma D'Auria’s Post

New York’s status as a global fashion capital is at a crossroads. But the industy is under pressure - it now employs 50,000 fewer people than it did ten years ago and the final market value of all goods and services produced in the city has been declining since 2014. In the fourth quarter of 2023, the Manhattan retail availability rate was at 15%, the lowest rate in 9 years, while asking rents are up 5.4% year-over-year, the fifth consecutive quarterly increase.   How can the city retain its position and continue to be a place where the fashion industry can thrive? Our latest research, published in collaboration with Partnership for New York City, delves into bold actions needed for New York to maintain its status as the global fashion capital. Kudos to the authors of the article Joëlle Grunberg, Colleen Baum, Maurice Obeid and Linda Liu.   Read the full article to learn more:  https://lnkd.in/dYJw6GQf   #Fashion #NewYorkCity #FashionCapital #NYFashionWeek

At a crossroads: New York’s status as a global fashion capital

At a crossroads: New York’s status as a global fashion capital

mckinsey.com

Joëlle Grunberg

Partner, McKinsey & Co. | CEO - Retail, Fashion, Footwear and Luxury | Top Women in US Retail 2020

4mo

Thanks for the shout out Gemma! Watch out Milan and Paris, we’re coming after you 😉

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