Niyati Dahisaria MA Fashion Business
IDEAS DEVELOPMENT AND BUSINESS PROPOSAL
“Can Fast Fashion Brands change their Business Models while trying to be Sustainable�
Contents ■ Overview of Ideas ■ Introduction ■ Main Objective ■ Argument and Evidence ■ Research Methodology – – –
Circular Fashion Law & Regulation Society of Women
■ Asia, Specifically India? ■ Conclusion ■ Bibliography
CIRCULAR FASHION
IDEAS
“Can Fast Fashion Brands change their Business Models while trying to be Sustainable�
- Why is it Important? - What does it mean to be circular within the Fast Fashion Industry? - Key Fast Fashion Brands: Sustainable - Key Fast Fashion Brands: Non Sustainable - Sustainable Business Practices - Recycled Packaging - Sustainable Business Models: Zara H&M - Non Sustainable Business Models - Fast Fashion Consumer vs Circular Fashion Consumer - Store of the Future - Making Sustainability Cool Again - Case Studies
SOCIETY OF WOMEN - Importance of Addressing this Issue - Is there really Social Change? - Trends as seen on the Fashion Show - Celebrities and their Multi- Million Dollar Support - Social Media & its Far reaching Impact Donald Trump & NYFW Feminism In Marketing
LAW & REGULATION - Current Scenario within the Fashion Industry - Fairtrade International - Corporate Social Responsibility Guidelines - Proposed Law & Regulation - How will this lead to change within the Business Models of Fast Fashion Brands - Investigative Documentaries The True Cost Sweat Shops in Turkey - Fashion Transparency Index
Introduction Through this research project my aim is to understand the working of various Business Models of Fast Fashion Brands through a comparative analysis of brands incorporating Sustainability practices into their Businesses and those Brands that do not. It also helps in understanding the mindset of the Fast Fashion Consumer and their needs and buying patterns which can eventually lead to a conclusion of whether Fast Fashion Brands would gain through these Ethical and Sustainable Business Practices and also profitably co-exist within the ‘closed loop’ Circular Fashion phenomena. This research project is not only a personal interest area but also a pressing issue which needs immediate attention. The Fast Fashion Industry has the potential to reduce global poverty by providing labour intensive employment opportunities to some of the least developed countries in the world. Paying fair wages to workers and in particular to women, in developing countries will lead to a tickle- down effect and lead to further positive investment in their families towards healthcare and education. Fashion being the second most polluting industry in the world, it owes a lot more to the environment than what it is currently taking responsibility for. Action needs to be taken in this direction by using sustainably acquired materials, reduction in water wastage and emission of toxic chemicals into the ecosystem. With growing consumer awareness of these issues, there is more pressure for Brands to take these into account and make suitable changes. Therefore, it was extremely important to analyze the Business Model of Fast Fashion Brands as they solely operate on increased consumption, quick turnover, lesser quality of products and affordable prices which is directly disagreeing with the idea of Sustainable Fashion!!
Main Objective
Through different strategies, companies are increasingly incorporating sustainability aspects in their business models. This enables them to contribute to a sustainable development and simultaneously leverage opportunities following changing customer behavior. This research not only being a personal interest area but is also a pressing issue which needs immediate attention. The ideas have been divided into three key areas which are inter-linked to one another and helped my ideas development process. ■
One trend regarding sustainability that has gained plenty of attention lately is Circular Economy. As the world’s middle class expands, the demand for resources increases, which leads to a situation where the world’s non renewable resources are used to depletion. This motivates a transition from today’s linear economic model to a circular model, where resource loops are tightened and resources are recovered at the end of life. Another aspect was to understand whether the Fast Fashion Consumer would be willing to shift from excess consumption and keeping-up-with-trends attitude towards a more sustainable lifestyle?
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Being a topic which has adverse effects on our environment, Law and Regulation play a vital role in keeping the Brands under check. Through this section of the research, I aimed to understand the current rules and guidelines of developing countries which reported the maximum number of sweat shops and poor working conditions of workers. A study into the proposed change in law and how this could potentially affect the Business Models of Fast Fashion Brands.
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A social change can be seen on the recent trends on the fashion week and how designers and celebrities are welcoming and encouraging upliftment of women through various campaigns and the far reaching impact through social media
“The Important Question to ask is whether a Sustainable Business Model needs to be strategized or Fast Fashion Brands would continue with their on-going practices as this is what their Consumers want”
Argument & Evidence The following pages is my in-depth research and analysis of the mentioned key areas. My opinions are backed up by facts, figures and quotes from various websites, editorials and research papers. I ensured that the research was done through various mediums and laid down the already known facts, identifying the gap in the industry while using this to analyse its relevant future outcomes within the Fashion Industry. While reading up and through different mentor sessions these topics, which seemed unrelated in the beginning, later seemed to have a common connection amongst the same. This supported in my development of ideas stage in an unusual manner and helped move forward in the right direction.
Research Methodology My research primarily has been through secondary methods, mediums and informal chats which have helped in laying a solid foundation for understanding and evaluating the various questions set before us. A detailed bibliography at the end of the proposal provides all the sources from where information has been used for the purpose of this study. “Sustainable development is development that meets the needs of the present without compromising the ability of the future generations to meet their own needs “ (WCED, 1987)
“0.1% of all clothing collected by charities and take-back programs is recycled into new textile fiber” (Newsweek, 2016)
“In Bangladesh, 70% of the GDP is earned from the Fashion Industry” (The Ethical Fashion Source)
“It takes 2,700 liters of
water to produce just one cotton T-shirt, while 5,000 children die each day due to a lack of clean water” (WWF, 2013)
“60% of consumers state retailer’s sustainability is important, 15.6% would not buy from a retailer if they were not transparent about their ethical credentials” (Hendriksz, 2016)
Analyzing the different examples of ethical practices such as Charities, employment of labours, organic materials, consumer behavior, to name a few, we know for a fact that sustainability is a pressing issue. Brands are looking to connect with tomorrow’s conscious consumer by making themselves a pathfinder with a conscience leading to a positive impact on the world. These brands are becoming far more attractive to consumers
Circular Fashion
Circular fashion can be defined as clothes, shoes or accessories that are designed, sourced, produced and provided with the intention to be used and circulate responsibly and effectively in society for as long as possible in their most valuable form, and hereafter return safely to the biosphere when no longer of human use (Dr. Anna Brismar, 2017, circularfashion.com)
Fast Fashion Fast fashion companies copy catwalk looks and tend to use extremely efficient supply chains to release more of these collections each year than other retailers. Items are sold cheaply and released quickly into stores. Many companies selling fast fashion have very low margins and are particularly vulnerable to increases in materials, transportation and labour costs. The appeal of fast fashion is not higher quality. Instead, consumers are drawn to stores by a chance to buy fashionable, cheap clothes that may not last long, either on the display or in wardrobes. Shoppers have come to regard clothes as disposable — if a shirt comes apart, they buy a new one This approach was conceived by Americans in the 1990s. The idea was that “quick response” could help the US textile industry work more effectively with retailers and stem the tide of production moving offshore. In practice, it did little for the US industry but a great deal for Europe’s. Inditex, the global Spanish clothing company, adopted it as the foundation of fast fashion
Leading fast fashion firms such as Inditex (parent company of Zara) and Uniqlo, owned by Fast Retailing, split their sales between core, price-driven items that are made in China and other long lead-time countries and quick selling fashion items that have a heavy design investment and are produced close to its key retail markets. But as wages in China continue to rise, this sourcing matrix is becoming less competitive. Staying ahead of the curve means better forecasting demand to maximise low-cost capacity, without sacrificing quick turnaround times on fashion items (The Financial Times, s.d.)
“Therefore, it might seem that combining Circular Fashion within the Business Models of Fast Fashion Brands is difficult due to their very own distinct opposite principles. However, it is not impossible”
Fast Fashion Brands Incorporating Sustainability Practices Fast fashion has made our wardrobes more disposable by increased and quick consumption and at the same time, made these brands very, very rich This research is based on the key brand players within the Fast Fashion industry. They are: ■
Zara : Is arguably at the top of the fast fashion game, producing chic but trendy runway-inspired pieces and limiting the availability of the pieces by changing the store inventory every week. Almost two-thirds of revenue earned by Inditex, Zara's parent company, is received from the Zara brand amounting to GBP 75.91 billion for the year end 2015 (Forbes, J. 2014)
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H&M : Is considered top 30 of the most valuable brands, worth GBP 57.2 billion with stores across the globe. The Swedish retailer is known not only for its criminally affordable wares, but also for its high fashion designer collaborations (Forbes, J. 2014)
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Adidas : Technically, it's an athletic brand, but collaborations with some of the most adored designers, combined with a penchant for quickly churning out these collaborations, makes Adidas a new frontier for fast fashion. The label is on the cutting edge of what's cool in activewear and is currently worth GBP 18.27 billion (Forbes, J. 2014)
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Uniqlo : Uniqlo shills all the basics you need at alarmingly low prices and has plans to open a host of new stores in the coming years. So far, Uniqlo has made GBP 4.9 billion in sales (Forbes, J. 2014)
Sustainable Business Practices
Under the umbrella of the Sustainable Inditex Strategy, the company is focused on making further progress on integrating sustainability into the Group's supply chain. This progress has materialized in the Global Water Management Strategy, which includes Zero Discharge of Hazardous Chemicals pledge for 2020 as part of the initiative being championed by Greenpeace. All of this has inspired the creation of inditex Green Code which applies environmental compliance assessment and control criteria to Inditex' manufacturing principles, as applied in the supply chain – Sustainable and Responsible Manufacturing, Inditex Perspective 2016 H&M conducts systematic, targeted sustainability work throughout their value chain. H&M has increased the share of cotton from sustainable sources from around 8 % in 2011 to 31% in 2015. Use of 78% of all electricity was obtained through renewable sources which has lead to reduction in emission of green house gases in absolute terms - H&M’s annual sustainability report Adidas operates on the “four pillars of sustainability” and guides in further integrating sustainability into their businesses, through innovative ways to manufacture their products while continuing to minimize their environmental footprint and improving the lives of factory workers and their communities – Adidas Annual Report Uniqlo believes in improving the world through clothes, by recycling products and donations to 59 countries of 16.32 million items as stated in their Corporate Social Responsibility Annual Report
Each Brand has its own approach to sustainability which can be seen by the goals achieved by them. However, there is still a lot of scope for improved methods. Through researching their sustainability practices, it was noticed that apart from H&M’s denim recycle campaign in 2015, no other brand has taken steps towards closing the loop
Fast Fashion Brands Not Incorporating Sustainability Practices In order to get an overall view of the Fast Fashion industry, it is important to anaylze the working models of those brands who are not following sustainable and ethical business practices, simply being focused on areas that define Fast Fashion. This section is based on the key brand players within the Fast Fashion industry not incorporating sustainable practices. They are: â–
Forever 21: Operates over 600 stores under the Forever 21, XXI Forever, For Love 21, Heritage 1981, and Reference banners. They sell men's and women's clothing and accessories. Stores can be found throughout the U.S. and in Canada, Europe, etc. The company is headquartered in Los Angeles, California and is currently known for making GBP 3.7 billion as of 2015.
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Mango : Spanish clothing group Mango's 2015 turnover grew to GBP 2.08 billion, mainly thanks to several new megastores and improved online sales. In the end, it managed to beat the growth forecast, which stood at + 13 %. They sell women’s clothing, shoes and accessories with a wide product range and a recent launch of their new Mango Committed Capsule Collection of 45 pieces. Although it is a step in the right direction, however, over the years the brand has abstained from better practices and this, only makes up for a very miniscule change from the rest of its non- ethical practices (Conlon, S. 2017)
Recycled Packaging All the cardboard that ZARA uses carries the Forest Stewardship Council certification, the international PEFC standard or an equivalent standard that promotes sustainable practices in forests around the world. The cardboard boxes that arrive in their stores are used up to 5 times before being recycled. They pass through their suppliers, distribution centres and central warehouses before arriving at the stores. Once there, they are reused while they are still in good condition for transporting clothes and store materials. When they can no longer be reused, they recycle them and transform them into new cardboard.
With this recycled cardboard ZARA has started to produce new boxes that they then use to send out online orders (s.d. Zara.com) “We can therefore avoid the felling of some 21.840 trees and reduce our CO2 emissions by 1.680 tonnes a year� #BoxesWithAPast
BUSINESS MODEL
BRANDS INCORPORATING SUSTAINABILITY PRACTICES
ZARA
Business model canvas can be used to map and illustrate the building blocks of a company’s business model. Below have outlined the main operations and the working of the company: Zara changes its clothing designs every two weeks on average. It carries about 11,000 distinct items per year in thousands of stores worldwide compared to competitors that carry 2,000 to 4,000 items per year in their stores. Zara’s supply chain is absolutely critical to its business success
“When margins get squeezed, as happened in 2010 when cotton costs spiked, vertically integrated retailers like Zara can rely on sales of higher margin fast fashion items to give them the breathing room they need to cut their losses on core items and avoid passing rising costs onto customers” (Hansen, 2012)
The heart of the company and its supply chain is a huge, highly automated distribution center (DC) called “The Cube”, which has been shown in the figure on the side Clothing items are priced based on market demand, not on cost of manufacture The short lead times for delivery of unique fashion items combined with short production runs enable Zara to offer customers more styles and choices, and yet still create a sense of urgency to buy because items often sell out quickly. Factories can increase and decrease production quickly, thus there is less inventory in the supply chain and less need to finance that inventory with working capital They do 50 – 60 percent of their manufacturing in advance versus 80 – 90 percent by competitors. So Zara does not need to place big bets on yearly fashion trends. They can make many smaller bets on short term trends that are easier to call correctly
Zara buys large quantities of only a few types of fabric (just four or five types, but they can change from year to year), and does the garment design and related cutting and dyeing in-house. This way fabric manufacturers can make quick deliveries of bulk quantities of fabric directly to the Zara DC – the Cube. The company purchases raw fabric from suppliers in Italy, Spain, Portugal and Greece. And those suppliers deliver within 5 days of orders being placed The 11 Zara owned factories are connected to the Cube by underground tunnels with high speed monorails to move cut fabric to these factories for dyeing and assembly into clothing items. The factories also use the monorail system to return finished products to the Cube for shipment to stores. Here are some facts about the company’s manufacturing operations: ■Zara competes on flexibility and agility instead of low cost and cheap labor. They employ about 3,000 workers in manufacturing operations in Spain at an average cost of 8.00 euros per hour compared to average labor cost in Asia of about 0.40 euros per hour. ■Zara factories in Spain use flexible manufacturing systems for quick change over operations ■50% of all items are manufactured in Spain ■26% in the rest of Europe and 24% in Asia and Africa
Manufacturers and Suppliers On analyzing the Code of Conduct for Manufacturers and Suppliers, one can understand the guidelines that Inditex follows before entering into contracts with any of its manufacturers and suppliers. The Code is mandatory which includes the following broad aspects: · Prohibition of forced labor and child labour · Prohibition of discrimination or abuse · Health and safety at work · Payment of wages and regular job · Not excessive working hours · Traceability of production - Environmental commitment GREEN CODE The Green Code is designed to bolster the adoption of environmentally sound policies for selecting, improving or substituting the industrial processes used in Inditex’ supply chain. It includes criteria for evaluating suppliers on their environmental performance Therefore understanding the root cause of the problem and studying the supply chain is of utmost importance as almost 80% of a product’s social and environmental impact is determined at the design phase. Zara’s reduced costs on transportation is clearly reflected in its selling price of garments which is way below its competitors. The assumption is based on the fact that these policies and guidelines have been outlined from Inditex’s financial statements, thereby adhering to some level of sustainability practices. Although more use of organic materials with collaborations with suppliers could be implemented for manufacturing of core items without passing on the burden to the final consumer. Zara can rely on sale of higher margin items as it has done so in the past.
H&M (Hennes & Mauritz AB) The Swedish brand has a distinct business model. H&M outsources its production to over 900 independent suppliers across the world, mainly in Europe and Asia, which are overseen by 30 strategically located oversight offices “In 2012, the brand became the top user of organic cotton in the world and donated 3.2 million garments to charities as a part of its ‘Don’t Let Fashion Go To Waste’ campaign, which encourages customers to bring in clothes from any store and get H&M savings coupons” Furthermore, to incentivize fair working conditions, H&M introduced a pilot program for its Bangladesh and Cambodian factories in 2013, which involved the company purchasing 100% of the factories’ outputs over a five-year span. H&M hoped that by being the sole customer, it is better able to ensure safe working conditions while increasing productivity much more naturally, as opposed to enforcing routine compliance inspections. Secondly, only 80% or so of all store merchandise is stocked year around, while the remaining 20% of H&M products are designed and stocked on the fly in smaller batches, depending on the prevailing trend. To ensure timely delivery and fast lead times, H&M relies on its state-of-the-art IT network,
which allows integration between the central national office and the satellite production offices (Tun, 2016) H&M has its supplier list posted online per country, complete with factory addresses and supplier contact names - In its wake to be as transparent with its customers as possible “H&M’s Conscious Exclusive collection is a lesson in high street sustainable fashion. Olivia Wilde was fronting the latest collection which features garments made out of hemp, organic linen and organic leather, this is a sure fire way to look fashionable and support sustainability”
BUSINESS MODEL
BRANDS NOT INCORPORATING SUSTAINABILITY PRACTICES
Mango Spanish-based retailer Mango’s domestic sales increased by 20 percent from the previous year. The company is applying various aspects of the below mentioned practices and has undergone massive changes in its business strategies, including: ■
FOCUS ON CASUAL WEAR: Two years ago, 70 percent of Mango's revenue came from party-wear. Now, the company has flipped its blend and is seeing strong results with it's assortment grounded in casual wear.
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LOWER RETAILS: Mango has cut prices to nearly 20 percent, significantly narrowing the price gap between comparable products at other fast fashion retailers.
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BRAND DIVERSIFICATION: Mango has recently launched stand-alone brands for mens and accessories with further plans for teens and specialty sizing.
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RENEWED COMMUNICATION STRATEGY: Mango aims to shift focus to its consumer through this medium and launch an advertising campaign displaying the latest trends
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GLOBAL EXPANSION: Mango intends to open 300 new stores this year.
The fast-fashion sphere continues to be highly competitive, they are certainly seeing promising signals with gains in Spain where unemployment is at over 25% (Hendriksz, 2015) It is to be noted that Mango caters to the same Target Audience and have not made any significant sustainable changes to their Business Models or undergone any Eco-Campaigns
Primark Another example of a Brand that may or not be incorporating Sustainable Business Practices into their Business Model is the Irish retail giant, Primark. It is interesting to see how Primark won the award for “Best Contribution to Corporate Responsibility” for its sustainable cotton program at the Chartered Institute of Procurement’s (CIP) Supply Management Awards. “This was an extremely well-thought out and executed entry. It takes its organization onto a new level and will enhance its reputation significantly,” (McGregor, 2016) But however, recent studies have pointed out that: ■
Primark does not disclose how much cotton it buys, or from where, despite the raw material being the most common fabric used in their clothes. Nor has the retailer revealed exactly how much money has been invested in the sustainable cotton program.
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Primark also does not own the factories that make its products and does not reveal their names. But the company claims that every single facility is audited by a third party. A statement on the retailer’s website points out that it can offer the lowest prices on the high street because it places large orders with suppliers that save money on transport costs by sourcing fabrics close to the factory.
These issues point in the direction that while the retailer is taking steps to make its supply chain more ethical, it is still falling short on transparency. It leads us to think whether the same is simply an advertising or marketing tactic to lay emphasis on the sustainable cotton program but at the same time hiding what truly happens behind the workings of the Brand
A Comparative Analysis between Zara and Mango state that though Zara being a newer launched Brand, is earning a almost 4 times of that of Mango’s earnings. This is basically due to its Industry best strategies. However, Zara’s growth rate is comparatively slower on a year on year basis. Mango has greater market penetration with increased number of stores however, Zara is quickly bridging the gap with newer stores added almost every few months across the globe. The numbers state that overall Zara has an upper hand compared to Mango and a part of this credit could be given to sustainable practices and reduced cost per garment.
Fast Fashion Consumer Brands establishing new fast fashion stores all over the globe, firstly need to know the local micro market along with the macro market. Information on customers' buying behavior and needs, the preferred location, the marketing tools they used, etc needs to be analysed. Whether the fast fashion model incorporating sustainability practices is suitable for these consumers or not is the debate. Below are their Key Attributes: ■
The target customer for fast fashion brands prefers to be more fashionable, however, the budget is always limited.
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Actual need is the main reason for consumers to buy new clothes. However, there are also quite a large number of consumers who choose "spontaneous shopping", "special discount" and "fashion followers“ as shopping reasons.
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Due to quick turnover, marketing strategies and communication is a major aspect in influencing customer behavior. Brand image and Brand loyalty are vital deciding factors.
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Youth driven, moving with the trends and looking up to celebrities and their style quotient are this Fast Fashion Consumers traits
Circular Fashion Consumer A ‘Circular fashion consumer’ is a person who appreciates the true value of a garment, a pair of shoes, or accessory, including all work that lies behind and all precious natural resources that have been used throughout its supply chain. He/she aims to hold on to its belongings for as long as possible, and to use them a maximum number of times during their lifetime. In all, he/she wishes to contribute to a fashion industry that is ‘circular as opposed to linear’, in which nothing goes to waste and everything is utilized, reutilized, repurposed and recycled in the most effective and sustainable manner possible “92% of young professionals ages 18-34 would be more inclined to work for an environmentally-friendly company. 26% are willing to pay more for clothes labeled as sustainable or environmentally friendly” “67% of young professional say they recommend brands that behave responsibly”
“73% of Indians and 79% of Chinese say they actively buy responsible brands, while 49% of Western Europeans and 44% of Americans say they actively buy responsible brands”
Store of the Future In order to encourage consumers to purchase ethically obtained products, focus needs to be on behavioral change by encouraging them to recycle their unwanted clothes or simply refrain from excessive consumption. It is important to look into the future and walk them through the same in the form of attractive retail spaces and behind-the-scenes through Story-telling. It aims to emotionally connect with the consumer and leaves a long-lasting impression. A successful recycling campaign, “H&M World Recycling Week featuring M.I.A.� was launched for a week across all its stores worldwide. The campaign aimed to attract the younger generation with the intention to reduce landfills and use of natural resources while ultimately closing the loop in fashion by making new clothes of the old ones. The campaign was a huge success and built massive consumer awareness. Its main idea was centered around the principle to MAKE SUSTAINABILITY COOL !!
Nikes Closed Loop Ecosystem H&M’s Recycled Denim Campaign H&M’s Greenbiz
A study of various case studies helped in setting the direction of the research, in analyzing what has been done and what needs to be done in terms of identifying the gap in the market and most importantly HOW it was done
Law & Regulation FAIRTRADE INTERNATIONAL ■
Fairtrade International has developed a new standard that aims to improve working conditions, living wages & workers’ rights in the global textiles supply chain.
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In the long term, it aims to empower factory workers and enable them to negotiate labour conditions independently. “Almost three years after the deadly collapse of the Rana Plaza textile factory in Bangladesh, which killed more than 1,100 and injured 2,500, lead to sparked demands for better protection – but many garment workers still have to endure dangerous conditions and low pay.”
The standard is the first step towards implementing a Fairtrade Textile Programme, similar in concept to that which exists for farmers and workers. Fairtrade will carry out additional work to improve conditions in the textiles industry, such as offering training. ■
Once a brand’s entire supply chain has been certified in line with the standard, it will be able to stamp its products with a Fairtrade Textile Production Mark.
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Factory owners within those supply chains will have to commit to ensuring living wages are paid within a set time period of six years. The factories will be audited by Fairtrade’s independent certification body.
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Brands will also be required to demonstrate to Fairtrade that they employ “fair and long-term purchasing practices”.
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Fairtrade will support the factories in meeting the standard’s requirements by improving health and safety, introducing living wages and improving efficiency and productivity.
Proposed Law and Regulation “Every time you buy really cheap clothes, you are supporting sweatshop labor at home or abroad. Period” – Forever 21 clothing made In sweatshops The Labor Department can only penalize companies that directly employ workers, the retailers themselves are avoided any repercussions. Action needs to be taken in this direction in order to directly punish those brands and those Fashion companies who employ workers through these retailers Also having watched “The True Cost”, a groundbreaking documentary film that pulls back the curtain on an unseen part of our world and asks us each to consider, who pays the price for our clothing?
Fashion Transparency Index It has been stated that Transparency shall be the beginning of a New Fashion Revolution, due to complexity of supply chains, deaths of factory workers, accountability and the increased consumer knowledge – (Fashion Transparency Index, April 2016) “Zara, Levi Strauss and H&M are the fashion businesses with the most transparent supply chains, according to a new report. However, these brands have a lot more to do to show their commitment to transparency” “Every brand should be doing more to communicate with the public about their strategies and performance on social and environmental issues throughout the supply chain” Consumers are not to be fooled anymore, if these datas and information are not provided to them they shall move over to the Brands that do
SOCIETY OF WOMEN
Trends on the Fashion Show
A social change can be seen on the recent trends on the fashion week and how designers and celebrities are welcoming and encouraging upliftment of women through various campaigns and the far reaching impact through social media ■
Prabal Gurung’s latest fall collection “love letter to women” The American fashion designer has never shied away from voicing his political stances, despite the backlash he’s received on social media. And the stars seem to appreciate him for it along with the consumers
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The Lane Bryant #IMNOANGEL initiative celebrates women of all shapes and sizes by redefining society's traditional notion of sexy with a powerful core message: “ALL women are sexy"
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Fashion Brands with Male Fashion Models are encouraging women through feminist slogans. Also, it is interesting to see how men are supporting women to wear they want, seeing a cultural shift in the attitudes of the people and the world becoming more globalized
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Celebrities such as Emma Watson, have always believed in these social causes especially the one on ending Slave labour
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Breaking Stereotypes – Once when politicians were looked up to for knowledge and support has changed although with citizens not shying away to stand against unjust practices. Donald Trump and Womens March
Why Asia, specifically India? Sell Where You Make!! – This could be an alternative Business Model for Fast Fashion Brands, as they could simply increase supply of clothes into these markets by gaining on reduced transportation cost and comparatively cheaper labour and wages. The fashion industry has good reason to look longingly at India once again. India’s growth outlook has recently improved on what was an already buoyant forecast. In the coming decade, the economy could swell by as much as 8 to 9 percent per year while more conservative estimates of GDP growth hover around 7 percent. Either way, India remains one of the most conspicuous growth opportunities in a global economy suffering from a slowdown in China, economic crises in Russia and Brazil and widespread uncertainty elsewhere. But what excites investors more than growth rates is the sheer scale of the Indian opportunity. A recent report by the UN revealed that India, with a current population of around 1.3 billion, is on course to overtake China in just six years to become the world’s most populous consumer market. In McKinsey’s latest Quarterly Executive Survey, taken in June, 84 percent of Indian executives said they feel optimistic about the country’s economy over the next six months. This is twice as high as executives from anywhere else in the world, including Europe, North America and Asia-Pacific region. Sarma points to the expansion of affordable chains and high street brands such as H&M, Forever 21, Gap and Inditex’s Zara among others.– Bof Article Nov, 2016 These new markets should offer fast fashion further room to expand. In recent years, its growth has slowed as it has saturated Western Europe and the US. But Euromonitor states, “Based on forecast real GDP growth, markets such as India, the Philippines, China and Vietnam present considerable opportunities for continued expansion given rising disposable incomes and growing appetite for international brands
CONCLUSION
Due to the above mentioned areas and concerns, and an analysis into the Business Model of Fast Fashion Brands, it is observed that they solely operate on increased consumption, quick turnover, lesser quality of products and affordable prices which is directly disagreeing with the idea of Sustainable Fashion. However, certain sustainable brands were performing well with sustainable activities while others were not. “The Important Question to ask is whether a Sustainable Business Model needs to be strategized or Fast Fashion Brands would continue with their on-going practices as this is what their Consumers want�
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