Despite a dip in margins, low cost and luxury outperformed the wider market in 2020, whereas the midmarket continued to be squeezed. However, efficiency was uneven, as countries with sturdy healthcare systems and financial resilience fared higher than others. Among product categories, it was a breakout yr for sportswear, with 42 {1cee45cb8e4838412993dd2017a9b61c015bb52a0c3f618c447915687ae044ee} of positive economic profit within the MGFI index coming from sportswear corporations, amid robust growth for Chinese players. From a geographic perspective, China was the standout performer over 2021, as its economy recovered much quicker than those of other countries. In 2022, the industry’s growth will likely be …