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Must Read: Business of Fashion and McKinsey Release 'The State of Fashion' Report, Taylor Russell Covers 'Dazed'

Plus, Gucci Changemakers applications are open.

These are the stories making headlines in fashion on Wednesday.

Business of Fashion and McKinsey Release State of Fashion 2023 report
Business of Fashion and McKinsey & Co. released their annual report, "The State of Fashion 2023," containing insights for the upcoming year and 10 key trends that are set to shape the industry. Business of Fashion CEO Imran Amed cautions of an upcoming global "polycrisis" between the economy and fallout from Russia's war in Ukraine. Major findings include that a whopping 56% of fashion executives are bracing for an industry slowdown through 2023 amid various pressures. However, luxury sales are likely to carry the industry, expected to grow 10% over the year. The industry remains cautious on the dangers of greenwashing. {Business of Fashion}

Taylor Russell covers Dazed for Winter 2022
"Bones And All" star Taylor Russell covers Dazed in Loewe, telling Connor Garrel about her love of nature and Patti Smith in the cover story. Though portraying "a loping, heartbroken flesheater" in the film, Russell revealed her childhood dreams to leave Canada, which led her to trying ballet before acting. Dazed wrote Russell "has the warm, inviting disposition of an old friend." {Dazed}

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Gucci opens applications for next Changemakers initiative
Gucci announced applications are open for its fourth class of the North America Changemakers initiative on Giving Tuesday. These funds are intended, according to the press release, to "support talented students and non-profit organizations that amplify stories and opportunities within diverse communities inspiring solutions for a better future." Gucci claims to have invested nearly $4.7 million in its scholarship programs to date. Applications are due on Feb. 3 and you can find more info here for scholarships and here for the impact fund. {Fashionista inbox}

Edie Parker is reaching younger shoppers with 'Weedie Parker' line
Where the brand may be known for pricy evening clutches, there are now handbag options under the Weedie Parker line, like the $150 customizable Bodega Bag, that help expose the brand to younger consumers, founder Brett Heyman tells Glossy's Sara Spruch-Feiner. As cannabis is increasingly decriminalized, so is fashion increasingly taking inspiration from the magical plant. {Glossy}

Homepage photo: Carlijn Jacobs/Courtesy of Dazed

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