30 Jul '14, 9am

The “Next 15″ will drive 80pc of emerging market growth by 2025: report

The “Next 15″ will drive 80pc of emerging market growth by 2025: report

Sixty percent of the world’s population live in the Next 15 As emerging markets continue to grow, 600 of the world’s top cities will be responsible for nearly 85 percent of global economic growth by 2025, according to a new report by McKinsey. McKinsey suggests that through mass urbanization there will be 60 megacities, double that of today, accounting for a quarter of global GDP. To target these areas of growth, luxury brands must adjust strategies to include cities that may not yet be on their radar to ensure that they have a presence as new markets begin to flourish. “It is hard for a brand entering a new emerging market to do everything at once,” said Sophie Marchessou, associate partner at the apparel, fashion & luxury group at McKinsey , New York. “Resources are often time limited (management attention, investment available…), so it is better to have a disciplined ap...

Full article: http://www.luxurydaily.com/the-next-15-will-drive-80pc-of...

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