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Notes -
Ehhhh it's kind of a mess all the way around. There are a handful of companies like Levi's which are grandfathered in and have a very specific niche that they do well enough that they are hard to mess up and I would describe as well run, though even those have rough patches.
Luxury brands are currently going through a huge problem where they've inflated prices outside of the reach of aspirational shoppers (basically everyone but the very rich) with zero increase in the quality of the goods they are selling- this is the case right now with every brand in the category from Chanel to the LVMH labels to McQueen. I believe I just read in the Business of Fashion that the luxury market (as in the number of buyers consuming luxury goods) has shrunk like 40 percent in the past 5 years. Of course before this LVMH for example was doing great for over a decade so things are cyclical and to some extent outside the control of management but the mishandling of the price point and quality control has been ridiculous and unnecessary and avoidable IMO.
Fashion management is also very prone to misunderstanding the customer's needs or desires, doing a poor job of matching expectation with product selection, they tend to fall for flavor of the day gimmicks that often fail, there is often friction between the business and creative sides of the businesses, and so on
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