#4: What makes a fashion brand sustainable in 2024?
WFX - World Fashion Exchange
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Welcome to Perspective, WFX’s monthly newsletter for fashion industry pros who love tech and innovation. In this issue, we’ll explore what it takes for a fashion business to operate in the ‘sustainable fashion’ realm.??
Earlier this month, a fashion show in the Atacama Desert made headlines for a not-so-fashionable reason. The desert has become a ‘global sacrifice zone’ for fashion waste from countries located many miles away, including the US, China, Europe, South Korea and the UK.??
Believe it or not, Chile’s Atacama is not the only dumping ground for fashion. The Dandora dumpsite in Kenya and the Kantamanto Market in Accra, Ghana face the same fate, making it amply clear that even if the “second largest polluter statistic” may be dubious—fashion's waste problem is very real. This is just the tip of the sustainability iceberg. Apart from waste, fashion has several environmental, social and governance problems that need tackling.??
So, what are the key sustainability pillars that fashion needs to tackle in 2024??
?? Circularity: Brands are exploring the idea of “decoupling revenue from the production of new garments, ” and it's easy to see why. To run a sustainable brand that’s also sustainable to run, you need the synergy of people, planet, and profit. Brands must find a way to make money without constantly making and/or marketing new clothes. This is where a circular fashion economy model could help. The industry needs to find ways to ramp up and scale circular business models such as rental, resale, repair and recycling.???
?? Lifecycle Traceability: Transparency is the new black. Brands need to get and be able to give end-to-end supply chain visibility from raw material procurement to finished products to their consumers. The upcoming mandate for Digital Product Passports aims to curb greenwashing and equip consumers to make informed buying decisions. Companies like Everlane are a great example of leveraging transparency to create a differentiated brand pull in a crowded market.??
?? Production Control: Fashion executives in the US are grappling with the largest unsold inventory glut in history. Whether due to a post-Covid demand slowdown or a mismatch with customer preferences, overproduction is a significant hurdle to reducing fashion’s carbon footprint. To address this, brands must reduce sampling waste, improve demand forecasting, and manage inventory more efficiently. Embracing made-to-order or small batch production methods can also be crucial steps towards achieving a more sustainable and responsive supply chain.??
?? Fair Wages: Any conversation of sustainability is incomplete without addressing fair wages and ethical labor practices. In an ideal world, we wouldn’t still be talking about this but over 90% of fashion workers still don’t make livable pay . Banning wage theft , ensuring fair wages and providing safe working conditions across the supply chain should be the bare minimum for any brand in 2024. Unfortunately, it isn’t always the case. Brands must prioritize regular audits and partner with certified fair-trade organizations to truly uphold these standards.??
We need systemic change, and we need it now. Regulatory bodies worldwide are stepping up, making sustainability a legal requirement rather than a choice. The European Union’s Green Deal and Extended Producer Responsibility (EPR), for instance, are setting the pace with strict environmental regulations that will impact global supply chains. The road to sustainability may be challenging, but it’s also an opportunity to innovate and lead in a rapidly evolving sector.??
Need an expert perspective? Our sustainable transformation team is here to help - Book a 1:1 call ??
Check out the latest stories from around the world on this topic!??
?? Can fashion cut overproduction? - Discover how major brands like H&M and Reformation are addressing the industry's overproduction crisis, guided by the Ellen MacArthur Foundation, and what steps they're taking to embrace more sustainable practices.??
?? Sustainability regulations for fashion in EU - This comprehensive whitepaper covers all the latest and upcoming EU sustainability regulations for fashion, offering essential guidance for fashion brands to navigate new legal requirements and transition towards more sustainable operations.??
?? Eco fashion veteran Mara Hoffman shuts brand - Learn why sustainable fashion pioneer Mara Hoffman is making the difficult decision to close her brand and explore the broader implications this has for the future of eco-friendly fashion and ethical business practices.??
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?? World’s top sustainable fashion advocates - Meet the leading advocates driving sustainability in the fashion industry, and discover their impactful contributions and innovative approaches that are shaping a more eco-conscious future for fashion.?
?? Re/Make fashion accountability report 2024 - Explore the latest insights into the ethical practices and sustainability commitments of leading fashion brands, as detailed in Remake's 2024 report, highlighting both progress and areas needing improvement.??
ICYMI: Our last issue covered the “new supply chain strategies for fashion ,” go catch up!???
Fashion Tech Week is just around the corner. If you’re in Bengaluru on 30-31 May 2024, you don’t want to miss it. Get in touch for a FREE pass to the largest fashion technology conference in India.?Meet our digitalization experts Anupam Jaiswal , Ramesh Anand and Jerry Wilfred at the fair!
Or if you're in Australia, you can come hear WFX's partnerships lead and sustainability expert Evelyn Gibson as she gives a seminar on "Sustainability Tracing in the Supply Chain" at the Global Sourcing Expo on the 14th of June. Get in touch for a pass !
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