JB Insights
The State of Fashion:Luxury 2025
McKinsey & Company and BoF Insights report
Global fashion faces challenging landscape
The ninth annual State of Fashion report by McKinsey & Company and BoF Insights highlights the challenging landscape the global fashion industry faces in 2025. With economic uncertainty, changing consumer behaviors, and evolving market dynamics, the year is expected to be a critical juncture for many brands.
Overview
Economic Challenges: 80% of executives foresee no improvement in the industry, and only 18% rank sustainability as a top concern, down from 29% in 2024. Consumer confidence and spending remain major issues.
Key Drivers: Price sensitivity, the rise of dupes, climate change acceleration, and reshuffled global trade create a difficult environment.
Geographic Shifts: Growth engines in Asia, particularly India, Japan, and Korea, are becoming pivotal as China faces economic challenges.
Themes Driving the Agenda
Trade Reconfigured: Brands are diversifying sourcing to align with evolving trade policies and sustainability targets. Nearshoring and political alignment are critical considerations.
Asia’s Growth Engines: While China slows, India, Japan, and Korea are emerging as vital markets for growth.
Discovery Reinvented: AI-driven curation in e-commerce promises to help overwhelmed shoppers navigate abundant choices.
Silver Spenders: The growing over-50 demographic offers new opportunities for incremental growth, emphasizing the need for inter-generational appeal.
Value Shift: Resale, off-price, and dupe markets are flourishing as consumers seek better value amid persistent economic pressures.
The Human Side of Sales: Enhancing in-store experiences by empowering well-trained sales staff can drive demand for physical retail.
Marketplaces Disrupted: Online non-luxury marketplaces face existential challenges, struggling with declining demand and rising customer acquisition costs.
Sportswear Showdown: Challenger brands are rapidly gaining market share, driving competition in the dynamic sportswear segment.
Inventory Excellence: Advances in inventory management and agile supply chains are key to addressing margin pressures and meeting sustainability goals.
The Sustainability Collective: Collective action is essential to meet decarbonization goals despite consumer reluctance to pay premiums for sustainable products.
Looking Ahead
The industry’s outlook remains sluggish, with revenue growth stabilizing in low single digits. Luxury’s dominance in profit creation is challenged by non-luxury segments for the first time since 2010. Brands that act nimbly to address geographic shifts, demographic changes, and technological innovations will find opportunities amid the turbulence.
Growth in the jewellery sector will be fueled by rising demand from ultra-high spenders and continuous investment from luxury houses in technology and expertise.
The new playbook for 2025 emphasizes adaptability, localization, and sustainability, while redefining value and consumer engagement. The fashion sector must innovate, embrace technology, and prioritize long-term resilience to navigate this period of reckoning successfully.
JB Insights
Titanium Jewellery Manufacturing: Convergence Of Advanced Manufacturing, AI, and Surface Chemistry
For Trade Professionals, Understanding The Tech Powering This Trend Isn’t Just Academic—It’s The Key To Navigating The Next Decade Of Luxury Design.
Titanium has officially broken free from its industrial roots. Long reserved for aerospace engineering and medical implants, this ultra-tough metal has been repositioned at the pinnacle of luxury watchmaking and high jewelry. Driven by a convergence of advanced manufacturing, AI, and surface chemistry, titanium is giving traditional precious metals a run for their money.
For trade professionals, understanding the tech powering this shift isn’t just academic—it’s the key to navigating the next decade of luxury design. Here are the core innovations driving the titanium revolution.
1. 3D Printing & Direct Metal Laser Sintering (DMLS)
Working with titanium presents a notorious metallurgical hurdle: its extreme melting point () makes traditional casting and soldering nearly impossible. Enter Direct Metal Laser Sintering (DMLS).
By using high-powered lasers to fuse microscopic titanium powder layer by layer, designers can bypass traditional workbench limitations entirely. This additive manufacturing capability allows ateliers to produce complex, hollow, and lattice-like organic structures. The result? Massively oversized, avant-garde statement pieces that remain remarkably lightweight and structurally indestructible.
2. Precision via AI-Driven CNC Machining
Titanium’s legendary hardness routinely destroys standard bench tools, making traditional hand-carving or standard machining painfully slow and cost-prohibitive. To solve this, forward-thinking manufacturers are deploying AI-driven Computer Numerical Control (CNC) machining.
AI algorithms optimize tool paths in real-time, reducing tool wear while carving intricate geometries at unprecedented speeds. Furthermore, these smart CNC systems achieve an ultra-refined grain size on the metal’s surface—a crucial prerequisite for achieving a flawless, mirror-like finish and vibrant color differentiation.
3. Electrochemical Anodization: Painting with Electricity
One of titanium’s most disruptive luxury features is its ability to take on vivid coloration without the use of fragile paints, platings, or enamels. Through electrochemical anodization, jewelers submerge the metal in an electrolytic bath and apply precise electrical currents.
Rather than adding a pigment, this process alters the thickness of the titanium’s natural oxide layer, changing how light refracts off the surface. Ateliers can consistently achieve fade-resistant, biocompatible hues ranging from deep electric blues and magentas to striking rainbow gradients.
[Electric Current Applied] ➔ [Oxide Layer Thickens/Shifts] ➔ [Light Refraction Alters] ➔ [Vibrant, Fade-Resistant Color]
4. Next-Gen Wearable Tech Integration
The booming smart jewelry sector demands materials that are bio-friendly, exceptionally durable, and featherlight. Aerospace-grade titanium has become the gold standard for this niche.
Market leaders like Ultrahuman utilize titanium chassis to house highly sensitive, medical-grade sensors. Because titanium acts as a rugged, hypoallergenic shield, it seamlessly protects internal components tracking Heart Rate Variability (HRV), skin temperature, and sleep cycles, all while offering the comfort of a traditional wedding band.
5. High-Jewelry’s “Stealth Wealth” Aesthetic
In the high-jewelry circuit, “heavy” no longer automatically equates to “valuable.” Elite international ateliers are embracing raw and black titanium as the ultimate canvas for haute joaillerie.

Weighing 45% lighter than stainless steel and a fraction of the weight of platinum, titanium allows designers to set massive, multi-carat precious gemstones into expansive designs without weighing down the wearer. Its deep, muted tones offer a stark, contemporary contrast to diamonds and colored gems, perfectly capturing the minimalist, “stealth wealth” aesthetic coveted by modern collectors.
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