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25 Richest Billionaires in Fashion and Retail Industry [Yahoo! Finance]
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Fashion and Retail Industry: An Outlook The fashion and retail industry is one of the largest industries in the world . According to a report by Research and Markets, the international retail market was valued at around $28.84 trillion in 2023. The global retail market is expected to reach $42.75 trillion by 2028, growing at a compound annual growth rate of 8.1%. In comparison, the global fashion retail market was worth $91.25 billion in 2023, as per a report by Zion Market Research. The global fashion retail market is projected to grow to $157.88 billion by 2032 at a compound annual growth rate of almost 7.09% between 2024 and 2032. The global fashion retail market was slow in 2023 and faced challenges. According to McKinsey's fashion report 2024, Europe and the US experienced slow growth in 2023, while China's fashion market initially performed better before fading in the second half of the year. However, the luxury segment in the fashion industry initially saw notable growth,
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