The Best of Workplace & Talent: Finding Stability in a Hostile Environment
By -Edward Lance Lorilla
December 31, 20245 minute read
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BoF is away for its annual break until 2nd January. In the meantime, we invite you to explore highlights of our news and analysis from the year.
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WHAT YOU NEED TO KNOW TODAY:WEDNESDAY, JANUARY 1, 2025
Dear BoF Community,
Donald Trump's victory in a bitterly fought election capped a year of rapid change and uncertainty in fashion workplaces.
The decline of diversity, equity and inclusion initiatives that were widely adopted in 2020 accelerated amid legal threats from conservative activists. Walmart, the largest US retailer, underscored this shift by unraveling many of its DEI initiatives in November.
Many fashion firms turned to AI to address a host of employment issues, including leaning on the technology to overcome longstanding recruitment challenges, from screening résumés to drafting job postings. The rise of AI is also placing a new premium on soft skills that can't easily be automated — like communication, creativity, critical thinking and adaptability.
The post-Covid hybrid work battles continued, with many companies settling on a three-days-in, two-days-out compromise. But employers are increasingly taking a harder line, with Amazon, Patagonia, Walmart and Asos among the firms reining in remote work. Foot Locker bucked the trend, announcing a move from its New York HQ to St. Petersburg, Fla., without requiring employee relocation.
Looking to 2025, Trump's policy agenda — potential mass deportations, tariffs and divisive stances on women's, LGBTQ, and immigrant rights — could heighten pressure on fashion and beauty brands to re-engage with the discourse. For some, that means reviving advocacy work that had waned towards the end of Joe Biden's administration. However, there are some early signs pointing to fashion leaders looking to curry favour with the president-elect as well.
The State of Fashion 2025 by McKinsey & Company and BoF Insights
Fashion executives are feeling pessimistic about 2025. A long-expected post-Covid spending slowdown has arrived, while geopolitical tensions remain high. But there are still pockets of opportunity in promising new markets, in underserved customer groups and at new frontiers in customer experience, powered by artificial intelligence.
Download The State of Fashion 2025 now to explore the 10 themes that will define the industry in the year ahead.
