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  "notes": "The chart uses a stacked bar format to show the net contribution of two segments to the total industry EP index change.",
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      "text": "Non-luxury is expected to contribute more value — an expected 30-index point increase in economic profit — than any segment since 2010 (excluding Covid-19).",
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      "text": "Economic Profit (EP) Index: 30",
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      "text": "Between 2021 and 2022, luxury alone contributed to the fashion industry's growth in economic profit. The segment achieved this growth in part due to price increases. Other segments dragged industry EP down. In 2023, this dynamic began to change.",
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      "text": "a. Based on H1 actuals (for 65 percent of companies) and H2 analyst consensus. Note: Luxury includes luxury and affordable luxury, non-luxury includes premium/bridge, mid-market and value/discount segments. Source: McKinsey Global Fashion Index",
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