The fashion industry is under pressure to change, especially when it comes to its sustainability credentials. Consumers and investors are increasingly demanding that fashion companies take action to reduce their environmental and social impacts.
Governments around the world are introducing regulations and initiatives that require companies to be more transparent and accountable for their sustainability performance. Failure to address these challenges can have serious consequences for fashion businesses, including reputational damage, financial risks, and loss of market share.
Our ‘Sustainability Strategy’ service helps fashion businesses navigate these challenges and find opportunities to make short, medium, and long-term improvements. We focus on not only the product and packaging, but also how the business operates as a whole.
We also help businesses to determine how to gather and report on information from their supply chain, and we work to improve the knowledge and mindset of teams within the business. Our team can ask the questions about those situations that you may not even see yourself.
Sustainability is not just about ticking boxes or avoiding criticism. It is most definitely about doing things better, adopting good habits and eliminating bad ones. It is also about building resilience, reducing costs, and creating value for all stakeholders.
Our team does not advocate greenwashing, but instead takes a strategic and practical approach to help businesses move forward at a time when sustainability efforts can no longer be postponed.
Not sure if this service covers everything you need?
If you are unsure which of our services would be best for your business, our D.O.C.S. review may be a great start. This quick but comprehensive review looks at the business Directional, Operational, Commercial, and Sustainability status and the ability to deliver the current strategies. The result should highlight where improvements may be needed and would bring the most value. You can then use that information to make decisions internally or with our guidance.
Just some of the clients that our team already had the pleasure of working with:
Featured: The Economics of Fashion: Balancing Profitability and Sustainability.
As many are finding out the hard way, it is not easy to flick a switch and actually be sustainable in the way you work or make your products. The term ‘green-washing’ is regularly applied to the fashion sector, for good reason.
The basic level of understanding of the sustainability of their products amongst designers and product managers does not blend well with the pressure to find the next revenue driver the business invariably will have. This frequently results in companies making vague or not entirely justified sustainability claims.
The fashion industry’s scale varies by country and location, but it is widely regarded as a key contribution to the world economy.
In Europe, the fashion sector is a large economic contributor. The European Clothing & Textile Confederation (ECTT) estimates that the European fashion industry generates over €200 billion in revenue per year and employs more than three million people.
The worldwide apparel and textile business was valued upwards of $1.7 trillion in 2018, according to the World Trade Organization (WTO), while the fashion sector as a whole is assumed to be worth many trillions of dollars.
According to the National Retail Federation, the fashion business in the United States is also a key contributor to the economy, with the apparel and textile industries alone generating over $350 billion in revenue in 2019. (NRF). According to the NRF, the fashion industry in the United States supports over four million jobs and creates over $800 billion in economic activity.
Overall, the fashion business contributes significantly to the worldwide economy, providing hundreds of billions in earnings, supporting millions of jobs, and stimulating global innovation and trade.
This also means that the sector can have a major positive or negative impact on the global environment. Pollution and unsustainable practices have plagued the fashion industry, leading to environmental groups, governments and consumers demanding positive change. The improvements can take many forms, from the removal of certain raw materials and packaging to a change in the way the industry sources and distributes its collections.
As the fashion sector has taught us that it can provide high volume at low prices as well as exclusivity at high prices, the pressure is on the design, development and sourcing teams to re-invent how they make products that can keep an educated consumer coming for more whilst not causing any more impact than is necessary or indeed, allowed.
“We have helped so many fashion businesses to make incredible progress.
However, we all know there is still so much more to do to improve the industry.
Let our team guide you as you create positive change for your shareholders and people. Start by asking us about our transformative consultancy and mentoring services.”
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Start transforming your fashion business with our expert help and guidance.
Focus on what you need or simply get a clear picture of your business’ Directional, Operational, Commercial, and Sustainability status.
Further reading: Useful articles for you.