Fashion Roundtable ORG LTD’s Post

The Fashion Roundtable ORG LTD latest report makes for important reading. Overview of the Fashion & Economic Value Report 2024 Our latest report illuminates the vast contributions of the UK's fashion sector, which generates approximately £60 billion annually—nearly half of the total economic impact from the UK's creative industries. It explores the economic influence, regional growth, and pivotal role in sustainability and innovation of the fashion industry.  Key Findings: Economic Impact: Fashion is the largest of the UK's creative industries, contributing around £60 billion per year to the economy and employing 1.3 million people. Regional Growth: The fashion industry supports regional economies, with notable increases in fashion businesses in Scotland and employment growth in Manchester. Sustainability Challenges: The industry faces significant challenges related to sustainable manufacturing practices and the environmental impact of fast fashion. Recommendations: Prioritise UK Manufacturing: Given the economic contribution of the fashion industry, it is crucial to prioritize keeping and expanding clothing manufacturing in the UK to boost economic growth. Support Regenerative Practices: Introduce tax and financial incentives to support regenerative and sustainable practices, ensuring skilled jobs can be developed to underpin local economies. Increase Responsibilities of Fast Fashion: Implement laws to hold fast fashion companies accountable for their environmental impact, preventing them from skewing the market in a damaging way. Develop Recycling Infrastructure: Work with the private sector to unlock funding and space needed to develop textile recycling centres, creating jobs and supporting local economies. Encourage Fashion Startups: Monitor the success of fashion startups and ensure university curriculums equip students with the necessary business skills to thrive in the evolving fashion industry. Integrate Fashion in Devolved Powers: Consider the role of the fashion industry when allocating funding and powers to devolved areas, ensuring local strategies support regional economic growth. The fashion industry remains a cornerstone of the UK economy, previously the fastest-growing creative industry in the country. Our report provides a comprehensive overview of the current landscape and proposes actionable solutions for leading in sustainability, social justice, increased social mobility, & boosting UK GDP. We urge all political parties to incorporate these recommendations into their post-election strategies. This is a pivotal moment to ensure a sustainable, inclusive, and prosperous future for the UK fashion industry. By highlighting these key findings & recommendations, you can help drive the necessary changes that will benefit the entire fashion sector and beyond. Read here: https://lnkd.in/ePQgxNGK

Navigating Trends and Sustainability for Future Introduction: The fashion industry is an ever-evolving landscape, driven by innovation, creativity, and changing consumer behaviors. As we look ahead, investing in the future of fashion goes beyond financial gains; it's about aligning with sustainability, technology, and shifting consumer values. In this blog, we'll explore strategic ways to invest in the future of fashion while fostering growth, innovation, and responsible practices. **1. Sustainable Fashion: Investing in sustainable fashion is a powerful way to contribute to the industry's future. Brands that prioritize ethical sourcing, eco-friendly materials, and fair labor practices are gaining traction. Investing in such companies not only supports positive change but also positions you at the forefront of an industry shift towards responsible practices. 2. Technological Innovation: The marriage of fashion and technology opens doors to exciting opportunities. Consider investing in companies that are pioneering innovative fabrics, wearable tech, and digital experiences. These innovations can reshape the industry and enhance customer engagement. 3. E-Commerce and Digital Platforms: The digital era has transformed the way we shop. E-commerce, online marketplaces, and fashion-tech platforms are thriving. Investing in companies that excel in the online space can yield significant returns, especially as the global consumer base shifts to online shopping. 4. Resale and Circular Fashion: The second-hand market is booming, as consumers prioritize sustainability and unique finds. Invest in platforms that facilitate the resale of pre-loved fashion items. Circular fashion not only aligns with eco-conscious values but also taps into a growing market demand. 5. Supply Chain Transparency: Investing in companies that prioritize transparency in their supply chain is not only ethical but also aligned with consumer demand for accountability. Brands that can trace their products' journey from sourcing to manufacturing are well-positioned for future success. 6. Fashion Education and Innovation Hubs: Supporting fashion education and innovation hubs can nurture the next generation of designers and entrepreneurs. These hubs foster creativity, drive innovation, and contribute to a sustainable talent pipeline for the industry. 7. Brand with Purpose: Brands that align with social causes and advocate for positive change are gaining popularity. Invest in companies that prioritize purpose-driven initiatives, as these resonate deeply with consumers and create a meaningful brand identity. Conclusion: Embracing Evolution with Purpose: Investing in the future of fashion is not just about financial growth; it's about being part of a transformative journey. By embracing sustainability, technology, and ethical practices, you contribute to an industry that's evolving towards responsible and innovative pathways #trendingnow #trendingreels #trendingvideo #podcasting  · 

🌍👗 Exciting News for Sustainable Fashion Enthusiasts! 👗🌍 According to a recent article on Yahoo Finance, the global circular fashion market is poised for unprecedented growth, with projections indicating it will reach an astounding $11 billion by 2030. Now is the prime time for both investors and fashion brands to get involved in this booming sector, with sustainability at its core. Companies and fashion brands alike can partner with innovators like Bandi, who are leading the charge in revolutionizing the fashion industry with their commitment to sustainability. 🚀 Don't miss out on this incredible opportunity to support sustainability while making a positive impact. Read the full article here to delve into the exponential growth of circular fashion and why it's the perfect moment to join forces with companies like Bandi: https://lnkd.in/dFVDX3kp As someone deeply passionate about sustainability and the future of fashion, I couldn't be more excited about the possibilities that lie ahead. Let's join hands in shaping a greener, more sustainable fashion industry! 💚🌱 #CircularFashion #Sustainability #FashionBrands #Bandi #GreenFuture

New Year, New Wardrobe? Are you aware of the impact that 'Fast Fashion' has on not just the #economy but also the #environment ? Fast fashion provides consumers with trendy and affordable clothing options. This accessibility allows a broader range of people to participate in fashion trends without breaking the bank. The fast fashion industry constantly introduces new styles, reflecting current trends, I too am guilty of falling into this category. Fast fashion contributes to economic growth by creating jobs in manufacturing, retail, and related industries. The industry's rapid turnover also stimulates consumer spending. However... The environmental impact of the fast fashion model often involves resource-intensive production processes and the extensive use of synthetic materials. This contributes to environmental degradation, including water pollution and excessive waste. To keep costs low, fast fashion often relies on low-wage labour in developing countries, leading to ethical concerns regarding poor working conditions, inadequate pay, and child labour. Fast fashion encourages a culture of disposability, where clothing is treated as short-term, disposable items. This contributes to a cycle of excessive consumption and waste. Rapid production timelines may compromise the quality of garments. Fast fashion items may be less durable and have a shorter lifespan compared to higher-quality, more sustainably produced clothing. What is the economic impact? Fast fashion has played a significant role in providing jobs globally, especially in countries with lower production costs. The affordability of fast fashion encourages consumer spending, contributing to economic growth and supporting retail sectors. What is the sustainability impact? Fast fashion's impact on the environment is a major concern, with issues such as pollution, resource depletion, and the large carbon footprint associated with production and transportation. How can balance economic growth and sustainability? There is an increasing awareness of the negative environmental and social impacts of fast fashion, leading to a growing demand for sustainable alternatives. Some fashion brands are adopting more ethical and eco-friendly practices, emphasising quality over quantity and promoting transparency in their supply chains. Balancing economic growth with sustainability involves transitioning toward a more circular and responsible fashion industry, where the negative impacts on both people and the planet are minimised. Consumer awareness and support for sustainable practices can drive positive change in the industry. #fastfashion #sustainability #retail https://lnkd.in/eHhjwSgv

IS FASHION FINALLY READY TO CUT OVERPRODUCTION? Vogue Business: H&M, Reformation and Zalando have joined The Fashion ReModel, a new initiative from the Ellen MacArthur Foundation to help brands ‘make money without making new clothes’. How can brands make money without making new clothes? That is the question posed by a new initiative from the Ellen MacArthur Foundation (EMF), launching today at the Global Fashion Summit in Copenhagen. The Fashion ReModel invites participating brands to scale up circular business models such as rental, resale, repair and recycling, while curbing the production and consumption of new materials. The hope is to “decouple revenue from the production of new garments, advancing the long-term journey to make a circular economy for fashion a reality”. Following a consultation with more than 80 industry stakeholders, EMF has set a roadmap for the project, to try and maximise impact. In the first year, participating brands will tackle climate and nature impact evidence, and finance metrics (policy will come later). To take part, brands have to commit to increasing the percentage of their revenue derived from circular business models over the next three years, reporting progress to EMF annually. There is no shared baseline for this: brands have set their own ambitions and shared them with EMF, but these will not be disclosed publicly for now. Arc’teryx, Reformation, Primark and Zalando are among the first to commit. Notably, the H&M Group has signed up alongside three of its brands: Weekday, Cos and Arket. Former CEO Helena Helmersson made headlines back in 2022 when she announced plans to double the group’s sales from 2021 to 2030, while simultaneously halving its carbon emissions from 2019 to 2030. This left many in the industry dumbfounded; Helmersson told Vogue Business that circularity would make this target a reality, but the industry was — and still is — far from delivering circularity at scale. The industry’s backing of EMF’s initiative suggests the tide may finally be turning. A second group of brands is already in talks to join the programme, according to EMF fashion initiative lead Jules Lennon. She hopes it will see similar growth to the foundation’s previous demonstration project, ‘The Jeans Redesign’, which started in 2019 with 16 organisations and ended in 2023 with over 100. Progress on decoupling financial growth from the use of finite resources is long overdue. Luxury retailer Selfridges was the first to set concrete targets in this area, but others have been sheepish about acknowledging the high rates of overproduction undermining sustainability efforts. https://lnkd.in/gX_r3T6k #investment #sustainability #fashion #metaverse #crypto

👕 Why fast fashion is a growing sustainability problem? Originally, clothes were meant to keep us warm or protect from the elements of nature. Over time, it became a way to express ourselves and fashion was born. Fashion is a way to communicate our ideas, affiliation, culture and our various moods, and it fulfills complex human needs for comfort and individual expression - as as well as for consumption. As a result of our wider connectivity via internet/tech and globalisation, fast fashion took over. We have now moved in an era of ultrafast fashion with fashion cycles counted in weeks rather than seasons boosted by social media and fashion influencers/bloggers who are constantly rewarded and paid by retailers/brands for brainwashing people into buying trendy clothes and changing their styles. It became a serious business and according to McKinsey, in 2023, the global industry was estimated to be worth $1.7 trillion, and more than 300 million people all over the world work on clothes, somewhere along the value chain. For all the growth it generates, the ultra/fast fashion industry is also responsible for considerable waste. The amount of damage from the linear model is growing, and the resources consumed and the waste produced are snowballing: 👚 Clothes are only worn a couple times and fall apart after a few washing cycles. 🌊 35% of all microplastics in the ocean come from laundering synthetic fibers. 🏭 30-40% of the clothes are never sold as they go out of fashion. 👣 Textiles are already roughly 10% of our carbon footprint and this is expected to double by 2050. 𝐇𝐨𝐰 𝐜𝐚𝐧 𝐭𝐡𝐞 𝐟𝐚𝐬𝐡𝐢𝐨𝐧 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐦𝐚𝐤𝐞 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐦𝐨𝐝𝐞𝐥𝐬 𝐦𝐨𝐫𝐞 𝐬𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞? Many fast fashion players are considering how to make their business models more circular (value creation and resources are deployed repeatedly), in response to climate pressures and a quickly evolving regulatory landscape. Here are a few ways in which fashion companies can work toward complying with changing regulations: -𝐈𝐦𝐩𝐫𝐨𝐯𝐞𝐝 𝐭𝐫𝐚𝐜𝐞𝐚𝐛𝐢𝐥𝐢𝐭𝐲. Achieving full supply chain visibility across all tiers of manufacturing will be a critical enabler for regulatory compliance. - 𝐒𝐨𝐮𝐫𝐜𝐢𝐧𝐠 𝐚𝐧𝐝 𝐩𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧. Upstream supply chain activities account for the majority of carbon emissions in the apparel industry, so in the future there may be a sharper focus on decarbonizing the production of materials and garments. - 𝐄𝐧𝐝-𝐨𝐟-𝐥𝐢𝐟𝐞 𝐰𝐚𝐬𝐭𝐞. New business models are coming to the fore to minimize production and waste. Resale continues to grow through brand partnerships with secondhand marketplaces, such as the RealReal, Vinted, Depop and Vestiaire Collective. Check out other sustainable apps here: https://lnkd.in/e_M7Uvcp #circulareconomy #fastfashion #regeneration #rethink #reuse #recycle #prelovedclothes #vinted #depop #ultrafastfashion #consumerism #waste #sustainability #esg

Innovation vs value creation- the pressure to change. Many fashion brands and retailers are investing in research and development, new technologies, and new business models to create more sustainable products and services, such as using recycled or organic fabrics, adopting #circularfashion practices, such as resale, rental, repair, and refurbishment, and offering personalized and customized products. Four main Driving Forces of Sustainable Fashion. 👉 Government and regulatory pressure. 👉 Market pressure. 👉 Closed-loop pressure. 👉 Value creation. ➡️ Government and regulatory pressure refers to the external forces that compel the fashion industry to comply with environmental and social standards and regulations, such as carbon taxes, waste management laws, labor rights laws, and product certifications. These pressures can create both challenges and opportunities for the fashion industry, as they can increase the costs and risks of doing business, but also create incentives and rewards for adopting sustainable practices. ➡️ Market pressure refers to the internal forces that motivate the fashion industry to respond to the changing needs and preferences of consumers, investors, and stakeholders, such as increasing demand for #sustainability, brand reputation, and competitive advantage. These pressures can create both opportunities and threats for the fashion industry, as they can open up new markets and segments, but also increase the competition and expectations from the market. ➡️ Closed-loop pressure refers to the internal forces that drive the fashion industry to optimize the use of resources and reduce the waste and emissions generated by the production and consumption of fashion products, such as resource scarcity, rising costs, and environmental impacts. These pressures can create both opportunities and challenges for the fashion industry, as they can improve the efficiency and profitability of the business, but also require significant investments and innovations in the supply chain and operations. ➡️ Value creation refers to the internal forces that inspire the fashion industry to create new and differentiated products and services that offer more value to consumers, society, and the environment, such as innovation, equity, authenticity, functionality, localism, and exclusivity. These forces can create both opportunities and challenges for the fashion industry, as they can enhance the brand image and loyalty, but also require more creativity and collaboration in the design and delivery of fashion products and services. The fashion industry also needs to collaborate and communicate with the various stakeholders and actors involved in the fashion system, such as consumers, suppliers, regulators, NGOs, and media, and to create a shared vision and action plan for a more #sustainable #future.

"What we could have dismissed as a fleeting trend just a few years ago is proving to be anything but as the sustainability movement continues to drive change in the fashion industry. With this continued development, brands should learn that surface-level actions to appear sustainable are unlikely to work and that in order to stay profitable, they should initiate real change." - Alison Bringé (nee Levy), Forbes Launchmetrics Forbes Communications Council #sustainability #fashion #fashionindustry #manufacturing #climatechange #marketing #climatechange #globalwarming #circulareconomy #recycling

As the world embraces fast fashion, the necessity to imbibe sustainable fashion to reduce carbon impressions for the fashion industry has gained importance. AI-based technology like computer vision in the retail sector can provide solutions and ease of implementation for sustainable fashion. We discuss some benefits of Computer vision in the Sustainable fashion area. Link in First Comment #sustainablefashion #ethicalfashion #goodfashionfund #textileindustry #duediligence #environmentalimpact #socialimpact #fashionindustry #sustainability #innovativetechnology #sustainableinvestment #sustainablematerials #retail #retailtech #computervision

When does hope cross over and become an illusion? News from last week’s @Global Fashion Agenda might qualify. The Fashion ReModel invites participating brands to scale up #circular business models such as rental, resale, repair and recycling, while curbing the production and consumption of new materials. The hope is to “decouple revenue from the production of new garments, advancing the long-term journey to make a circular economy for fashion a reality”. A number of progressive brands including Arc'teryx, Reformation, Primark and Zalando are among the first to commit. H&M too. The project has also been endorsed by multi-stakeholder groups including the Global Fashion Agenda, the British Fashion Council, Textile Exchange, WRAP, Fashion for Good and Business for Social Responsiblity (BSR).  Each promises to increase the percentage of sales from a ReModeled business system. A worthy aspiration….confounded by implacable obstacles including... 💵 The math of collection, sortation and recycling does not work. Different from EV battery recycling, clothing inputs are not high value…and there is no “room” in the model for recycling CAPX or incremental opex. This is but only one reason why upcycling amounts to next to nothing in fashion. 🧵Repair is noble. Credit to courageous innovators like those leading REVIVE CLOTHING LAB for demonstrating possibility. Yet, repair is rendered mostly archaic by virtue of the continued deflation and the increasing speed of fashion churn. As a result, repair does not even register on the radar for most brands. 🛍️ Resale seems like a great idea, but, there is no evidence that it slows the sale of new products. And, who thinks brands like SHEIN selling $7 jeans will garner interest on resale. Even more, Patagonia, a resale pioneer (with WornWear) reported that their resale business represented less than 1/2 of 1% of sales (in 2021). Sadly, circularity has yet to be any match for a system and incentives that rewards growth and profit growth ahead of planetary health. Matt Powell Matt Dwyer Maxine Bédat Leslie Johnston, M.Sc. Livia Giuggioli Firth Kathleen Talbot Sarah Kent Brett Mathews Samantha Taylor Allen Zelden Dr. Vidhura Ralapanawe Saqib Sohail Rachel Arthur Joel Makower Sydney Badger Rex Woodbury Vanessa Barboni Hallik Yolande Klaassen Marisa Selfa Chris Goddard Ryan Gellert https://lnkd.in/e5DKjseH