Welcome to Hook Daily, Press Hook's daily article selection that those in the industry need to read. Whether it's insight from journalists or publicists, trends that should be on your radar, or ways to change up your work habits, we've scoured the internet to find the news you can use.

Today's pick: "The State of Fashion 2023: Resilience in the Face of Uncertainty" from Business of Fashion

Business of Fashion and McKinsey have released their 7th edition of The State of Fashion, covering what happened in the industry in 2022 and what we may be able to expect in 2023. The report details how geopolitical issues and other factors influenced the industry last year and predicts some of how these factors will influence things moving forward.

"In aggregate, McKinsey expects global fashion sales growth of 5 percent to 10 percent for luxury, and negative 2 percent to positive 3 percent for the rest of the industry in 2023, while the dichotomies that previously defined the fashion business are expected to return. Beyond the differences between luxury and players from other segments, regional differences will be pronounced. The US economy, despite the slowdown, is expected to be more robust than other major global economies — Covid-19 outbreaks and precautions continue in China, while Europe suffers from an energy crisis and a weakened euro against a strong US dollar."

For the full report, head to BOF's site.