Transforming the tapestry : How fashion entrepreneurs build a better future

This explainer emphasises the need for fashion entrepreneurs to have a crystal clear narrative aimed at positive impacts through their businesses and the topmost trait they must possess for success

Smack-dab in the heart of the Fall/Winter 2024 fashion weeks, we thought it appropriate to initiate a conversation that is a must not just for this year but also for the years to come. Today, we talk about the beginning of a long convoluted journey, the first essential requirement for any impact entrepreneur.

The power of a transparent narrative

Question : What is common between - 1) Stella McCartney, stalwart of circularity, sustainability and innovation in fashion, 2) Maxine Bédat, founder and director of sustainable fashion think tank New Standard Institute and a key drafter of the historic Fashion Sustainability and Social Accountability Act (or NY Fashion Act), 3) Vivienne Westwood, trailblazer designer, climate change activist and social activist and, 4) Fran?ois-Henri Pinault, CEO of Kering Group and sustainability advocate

Answer : A synchronicity of actionable intentions.

While Vivienne Westwood made her transition in December 2022 her treasure trove of a legacy lives on. All four of these entrepreneurs share a common vision of the future of fashion industry. The thread that binds their narratives as entrepreneurs together is one of — empathy.

"Leadership is about empathy. It is about having the ability to relate to and connect with people for the purpose of inspiring and empowering their lives."

- Oprah Winfrey

All the talk about positive impact is meaningless without underlining the importance of being empathetic. Empathy serves as a powerful tool for fashion entrepreneurs striving to create a more sustainable and equitable future for the industry. It allows them to connect with their customers, understand the challenges faced by various stakeholders, and drive innovation towards a better future for fashion, society, and the planet. By logical extension, the lack of empathy can be attributed as one of the prime causes of every micro-issue stemming from this macro-realm, eg : all ethical issues in the serpentine global fast fashion supply chains can be linked back to lack of empathetic leadership.

The narrative woven by these empathetic entrepreneurs transcends mere lip service to sustainability and social impact. These leaders recognised early on, the industry's substantial environmental footprint and the potential for positive change in the future. And the entrepreneurs we've just mentioned are just a glimpse of the many pioneering individuals and organizations striving to make a difference. A study of their collective narratives over the years reveals that they consistently emphasise use of sustainable materials, ethical production practices, and champion fair wages within their supply chains. Additionally, each of them have supported programs in producer communities that tackle issues like education and empowerment. This approach blends environmental responsibility with a commitment to improving the lives of those involved in the creation of these garments, making these entrepreneurs pioneers of both sustainability and social justice.

Importance of blending climate consciousness and social impact

Integrating climate consciousness and social impact into the core of a fashion brand is no longer a peripheral concern, but a fundamental necessity for ensuring the industry's future. It allows brands to acknowledge pressing environmental challenges, meet consumer demands, build long-term resilience, and inspire positive change within the industry as a whole.

This approach of blending climate consciousness and social impact, is essential for the future of the fashion industry for several key reasons. Here, we list the top five ones :

• Addressing existential threats: The industry currently faces existential threats due to its environmental footprint. From excessive water use and pollution to greenhouse gas emissions and textile waste, the industry's practices are unsustainable and contribute to climate change. Embracing climate consciousness is no longer a choice, but a necessity for the industry's survival.
• Meeting consumer demands: Consumers today are increasingly conscious and concerned about the environmental and social impact of their purchases. They are actively seeking out brands that align with their values and prioritize sustainability and ethical practices. Ignoring these demands will limit a brand's reach and potential for growth.
• Fostering long-term resilience: Building a sustainable and ethical supply chain fosters long-term resilience for the industry. By ensuring fair labor practices, fair wages, and responsible sourcing of materials, brands not only demonstrate their commitment to human rights but also build stronger relationships with suppliers, leading to better product quality and improved delivery times.
• Building brand loyalty: Authentic narratives that genuinely reflect a brand's commitment to climate consciousness and social impact can lead to stronger brand loyalty and customer trust. Consumers who connect with a brand's values are more likely to become loyal customers, advocate for the brand, and pay a premium for sustainable and ethically produced products.
• Inspiring innovation: Embracing sustainability and social impact can spark innovation within the industry. Entrepreneurs are constantly seeking out new technologies, materials, and production processes that minimize environmental impact and improve ethical practices. This fosters a culture of continuous improvement and leads to the development of more sustainable and ethical garments.

Conclusion

As the fashion industry navigates the winds of change, these empathetic entrepreneurs offer a beacon of hope for a future where style and sustainability coexist. Their narratives are a reminder that even in an industry known for trends, the most impactful ones often transcend mere aesthetics. By embracing climate consciousness and social impact in their action, they are not just crafting collections, they are weaving a new narrative for fashion – one built on responsibility, purpose, and a genuine commitment to a better tomorrow for both people and the planet.

In the coming weeks we will be deep diving into various topics, collaborating with fashion industry entrepreneurs and experts to discuss what can be done to create a culture of accountability in the industry. And of course, the role of tech in bettering our collective future.