Must Read: Analysts Forecast Beauty Industry Growth, Demna Profiled in 'The New Yorker'

Plus, the feasibility of circular fashion.

These are the stories making headlines in fashion on Monday. 

Analysts forecast growth in the beauty industry  
Consulting firm McKinsey & Co. predicts that the American beauty industry will experience record growth over the next four years, with 9% annual sales increases between 2022 and 2026 (more than double the pre-pandemic rate). "As an emotional category, beauty is more resilient and is considered an essential versus a discretionary spend," said Dimpy Jindal, associate partner at McKinsey & Co. There will, of course, be differences between beauty categories; haircare is anticipated to increase in a double-digit percentage until 2025, while growth for makeup, skin care and fragrance is forecasted to be weaker. {Beauty Independent}

Demna's future at Balenciaga 
Following serious accusations around recent controversial Balenciaga campaigns, Demna is staging his comeback, which includes an in-depth profile in The New Yorker. For the house's latest Paris Fashion Week show, which media outlets described as the make-or-break moment for the fashion house, Balenciaga played it safe. Its Fall 2023 collection leaned heavily on technical prowess, shifting viewers' attention to well-constructed garments consistent with Balenciaga's style ethos. Backstage, Demna revealed to Lauren Collins that the campaign snafu (which he called a "stupid mistake") accelerated his "evolution for the house," explaining, "from the end of last year, with everything we went through, I just woke up one morning and said, You know what, I don't need to wait another year or two to mature as a designer." {The New Yorker}

The feasibility of circular fashion
In recent years, fashion's biggest buzzword has been "circularity." Rachel Kibbe, CEO and founder of consulting service Circular Services Group, describes circularity as "the concept that we can produce goods that cause no harm to the planet in manufacturing and that all parts can be reused, with no virgin resource extraction at the start." Although brands have taken measures to achieve this, such as partnering up with third-party resellers Vestiaire Collective and The RealReal, much still needs to be done, writes Alyssa Hardy for Elle. While products must be designed better for reuse, consumers must also make fewer purchases. {Elle}

Alaïa designs ballet costumes for Opéra de Paris 
Pieter Mulier, creative director of Alaïa, teamed up with the Paris Opera to create costumes for the production of "Pit," by choreographers Bobbi Jene Smith and Or Schraiber. Per a press statement, Mulier "conceived supple armours made with some of Alaïa's iconic materials and inspired by the free movements of the dancers." Each piece was designed to complement the curves of the dancers' bodies and enhance movement. {Fashionista inbox}

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