Fashion
Tariffs top concern in fashion, how to unlock efficiency 2nd: Survey
Research indicates that some of the larger brands are less well represented and covered on AI assistants, while many disruptive challenger brands feature more prominently, Anita Balchandani, the report’s co-author and senior partner at McKinsey in London, told a recent webinar.
This year’s dominant themes in the global fashion industry include agentic AI, the growth of the resale market, the quest for operational efficiency and strategic renewal in the luxury sector, according to The State of Fashion 2026 published by McKinsey and the Business of Fashion.
Tariffs are the top concern of executives surveyed, and the second-most-cited concern was how to unlock efficiency.
A second variant of this is agentic search on brand websites. The brands and retailers doing more in this space are absolutely seeing a lot of customer growth in agentic search traffic, she noted.
Nine in ten consumers cite being part of a like-minded community as a top driver of brand connection. Therefore, brands must think about the shift from attention to retention, said Gemma D’Auria, another co-author and senior partner at McKinsey in Milan.
“We also see that consumers expect more from the brands they interact with; short-lived interactions and the “dopamine hits” are losing their allure. Consumers are looking for more meaningful, sustained connections with brands that reflect their values and evolving identities,” she noted.
Resale is set to grow two to three times faster than the first-hand market in 2027, she said, noting that brands have started to embrace this channel, and some of the early concerns—about authenticity and lack of control over product—have abated.
Tariffs are the top concern of executives surveyed, and the second-most-cited concern was how to unlock efficiency, said Colleen Baum, the third co-author and senior partner at McKinsey in New York.
“The levers that the industry has traditionally relied on—a little improvement in sourcing and in full-price sell-through—will no longer be sufficient to deliver lasting efficiency. The focus here is on finding the next step—through technology, AI, and innovation—that will allow not only investment back into the business but also some of that margin to reach the bottom line,” Baum told the webinar.
Tariffs have increased prices for apparel and leather goods by roughly 35 per cent from a first-cost perspective, and the sector is among the most affected by tariffs in an inflationary market, she said.
In parallel, consumers are becoming more value conscious, with 70 per cent saying they plan to spend less and 80 per cent indicating value-seeking behaviour—waiting for sales or perhaps shopping around at different retailers for an item that they want. These factors have significantly affected working capital and inventory days on hand, she added.
Fibre2Fashion News Desk (DS)
Trident Group, a leading Indian business conglomerate and globally recognised textile manufacturer, has been honoured by ET Edge, an initiative of the Times Group, as the Best Organization for Women 2026. The recognition acknowledges Trident’s sustained efforts to build inclusive, supportive, and empowering workplaces for women.
Trident Group has been recognised by ET Edge as the Best Organisation for Women 2026, highlighting its strong commitment to inclusivity and empowerment.
Through initiatives like Shreejana and Asmita Leaves, alongside flexible policies and leadership programmes, the company continues to foster supportive workplaces where women can grow, lead, and thrive.
Commenting on the recognition, Ms. Pooja B. Luthra, Chief Human Resources Officer, Trident Group, said, “At Trident, empowering women is integral to how we think, act, and grow as an organisation. We are committed to creating a workplace where women feel respected, supported, and confident to pursue their aspirations, navigate life transitions with dignity, and progress into leadership roles. This recognition reinforces our belief that when women are empowered, organisations grow stronger.”
Guided by this commitment, Trident has instituted initiatives addressing key personal and professional needs. Programmes such as Shreejana, Asmita Leaves, and Shagun/Aashirwad, along with Hastakala, are supported by maternity benefits, flexible work options, wellness initiatives, and leadership development frameworks.
This recognition reaffirms Trident Group’s commitment to shaping workplaces where women are enabled to lead, innovate, and create lasting impact, contributing to inclusive growth across geographies and generations.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (MS)
Addressing a pre-budget meeting with stakeholders, he indicated a gradual return to the standard corporate tax rate of about 27.5 per cent.
Bangladesh’s National Board of Revenue has said the reduced corporate tax rates of 10-12 per cent being imposed on the RMG sector now may not last longer.
At a pre-budget meeting with stakeholders, it indicated a gradual return to the standard 27.5-per cent rate.
AmCham Bangladesh proposed rationalising the 1-per cent minimum tax on annual turnover and lowering tax rates for offshore banking units.
Export-oriented knitwear and woven garment manufacturers, along with green-certified factories, enjoy lower corporate tax rates of 10 per cent and 12?per cent respectively. These incentives are designed to boost exports and encourage sustainable industrial practices.
Exporters already enjoy a 50-per cent income tax exemption on export earnings, which reduces their actual tax burden to a great extent, he was cited as saying by domestic media outlets.
Women Entrepreneurs Network for Development Association (WEND) president Nadia Binte Amin suggested equalising corporate tax rates and reducing the 1-per cent tax deducted at source (TDS) on export earnings for fully women-owned businesses.
She also proposed a 10-per cent tax rebate for companies investing in research and development, innovation, training and sustainable development.
The American Chamber of Commerce in Bangladesh (AmCham) proposed rationalising the current 1-per cent minimum tax on annual turnover. It also suggested maintaining a level-playing field in the banking sector by applying a uniform 37.5-per cent tax rate to both foreign and local commercial banks.
It also recommended lower tax rates for offshore banking units, similar to other Asia-Pacific countries, where rates range from 0 to 20 per cent.
Other proposals included simplifying procedures under Double Taxation Avoidance Agreements, speeding up certification processes, introducing a standard foreign currency conversion method in line with international practices, and rationalising withholding tax rates.
Fibre2Fashion News Desk (DS)
Global apparel margins are under sustained structural pressure as input inflation, freight volatility and tariffs converge with weak demand, limiting pricing power.
While leaders like Inditex offset costs through agility and sourcing strategy, most brands and suppliers face prolonged profitability stress, with recovery hinging on demand stabilisation.
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