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Hello readers,
This week I would like to cover Sustainability in Fashion & Luxury industry.
Growing demand for a more environmentally and socially-responsible industry has put pressure on big brands to rethink their business practices.
While there is still a lot of green-washing and unethical marketing involved, I hope that the concept of sustainability and circular fashion will become core value for businesses, and the glitz and glamour associated with new collections, luxury products and fashion shows won’t come at a high environmental cost.
“Does an ethical luxury exist? First of all ethical is a way of thinking, a lifestyle. New luxury is the opposite of excessive consumption, it means respecting nature and the environment, it means fair trade. We get confused by business and beauty, thinking they are the same concept. [..]
A Big Brand can sell everything, even when their products are not so well-made, but the brand is so strong that the buyer will purchase them anyway just because of the brand’s name. These big brands have the opportunity to experiment an ethical luxury persuading people to buy beautiful accessories and clothing but with an ethical approach. It is possible, it’s up to the designers and the marketing people and sellers and shops. It's not about the price tag, it's all about quality and choice.
A big responsibility is in the hands of the media that have to convey the message that we can dress luxuriously but also ethically. It is a new way to be different, a new way to become a trendsetter and not a follower. [..] Uniqueness, quality, diversity, the respect for nature, for the environment fair trade and sustainability. These are the new words for luxury. A powerful and unusual luxury.” - late Vogue Italia editor Franca Sozzani
In luxury fashion, Stella McCartney was the first big brand built on a foundation of sustainability. Kering learned a thing or two on sustainable luxury fashion after a 17-year joint venture with Stella McCartney and is now leading the way for the luxury industry to follow a sustainable path.
In September 2019, the luxury conglomerate announced that it will become carbon neutral across its operations and supply chain. In June 2020, Kering recruited British actress and activist Emma Watson to join its board of directors, where she will serve as the board's chair of the sustainability committee.
Last year during Milan Fashion Week for Spring Summer 2020 to ensure the show is carbon neutral, Kering’s cash cow Gucci pledged to offset the the impacts of its 2,000 guests and workers. In its latest environmental profit and loss report, Gucci reported a 21 percent reduction of total footprint and decreased its greenhouse gas emissions by 18 percent year-over-year.
The brand also released its first collection Off the Grid made with sustainability and circular production in mind, hitting the stores on June 30 worldwide, and relaunched its sustainability Gucci Equilibrium platform.
Related reading: What is carbon offsetting and does it actually work?
"Brands have started integrating the philosophy of 'doing business for good' into their values, moving beyond a pure focus on shorter-term shareholder value generation. Sustainability is no longer considered just to be a mitigating risk or part of supplier compliance, but it is becoming increasingly seen by CEOs as a 'must' in doing business." - Achim Berg, global leader of consulting firm McKinsey’s apparel, fashion, and luxury group
To be considered genuinely sustainable, brands need to entirely transform every aspect of their businesses. The figure below illustrates eight “crucial sustainability priorities” set out by Global Fashion Agenda, as a guidance for CEOs, fashion leaders, designers, and brands to be complied and implemented in their businesses in order to be more ethical and environment-friendly.
According to the latest “True-Luxury Global Consumer Insight" released by BCG in collaboration with Altagamma, sustainability will evolve into the core aspect across industries, following the shift in consumer behavior towards more sustainable consumption.
However, if our current business models are built on the idea “increased profit demands increased consumption”, producing new products using sustainable materials and going carbon-neutral won’t save the planet.
What we need are new business models built towards the circular economy. True luxury is meant to be timeless, passed down through generations, rather than be Instagram-driven and sold at discounted prices a season later.
NEWS DIGEST
Farfetch launches consumer fashion footprint tool
Online luxury fashion platform Farfetch has launched an online fashion footprint tool to help consumers understand how to track the environmental impact of their purchasing decisions and how their pre-owned and conscious fashion choices can impact the planet. (Fashion United)
Resale Set to Seize Market Share in Post-COVID-19 World
Already set to reach $64 billion in the next five years, according to Global Data market sizing and growth estimates seen in ThredUp’s latest report — secondhand is growing rapidly among consumers, who in uncertain economic times increasingly turn to thrift. (WWD)
Ralph Lauren shares progress on global citizenship & sustainability with fiscal year 2020 Design the Change report
Company announces science-based greenhouse gas reduction target and water stewardship collaboration with World Wildlife Fund. (3BL)
L’Oréal Sets 2030 Sustainability Goals
The world’s largest beauty company’s targets hone in on biodiversity preservation, water management and the circular use of resources. (WWD)
BONUS: Educate Yourself on Saving Our Planet and Your Closet
If you would like to learn more about Sustainability in Fashion industry these are few resources I recommend you to follow:
- Vogue Business Sustainability Edit providing an in-depth feature and insights on the latest eco-friendly fashion developments and important global issues like water scarcity, chemical pollution, CO2 emissions and textile waste.
- Sustainability x Fashion on Substack covering the latest news on the intersection of sustainability and fashion. Each week the newsletter explains complex terms associated with sustainability in a simple friendly manner.
- Wardrobe Crisis podcast with Vogue Australia’s sustainability editor Clare Press. Every week the podcast features interviews with industry experts, such as Patagonia’s Director of Philosophy, Kering’s Head of Sustainable Sourcing and Innovation. The podcast is named after Clare’s bestselling book Wardrobe Crisis: How We Went From Sunday Best to Fast Fashion.
- also add to your summer reading list Overdressed: The Shockingly High Cost of Cheap Fashion by Elizabeth Cline. This book is a great starting point if you want to learn more about the negative effects of the fashion industry.
Stay safe and shop consciously,
Assiya Assanbayeva
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