US EditionProfits in Vogue, Wages in Ruins: The Dark Economics of Fast Fashion
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Profits in Vogue, Wages in Ruins: The Dark Economics of Fast Fashion
Fast fashion proves successful economically for the retail industry worldwide. The fast-fashion market in 2020 globally produced $25.1 billion. It was expected to increase at an annual compound growth rate (CAGR) of 21.9%, resulting in the global market increase to $31 billion in 2021. By 2030, it is estimated that the fast fashion industry will bring a revenue of $192 billion to the world’s global economy. This economic growth from fast fashio…
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