Unlocking this potential would require the industry to pursue the following actions:Ĭreate new business models that increase clothing reuseĭevelop solutions so used clothes are turned into new To achieve this, the fashion industry will need a fundamental redesign: shifting from a take-make-waste model towards a reuse-based model. Making fashion circularĪ circular economy offers opportunities that can help the fashion industry respond to new customer demands while offering new growth opportunities. As McKinsey and Company stated in a 2019 report, members of the fashion value chain must “self-disrupt their own identity and the sources of their old success to realise changes that win new generations of customers”. These growing customer segments require the industry to change.
Those less influenced by such trends seek one thing - better quality clothes that can stand the test of time. Young customers are demanding unlimited access to fresh styles, while others are looking for tradable platforms where luxury and vintage garments can be found. Customers concerned with social and environmental issues are now demanding sustainable and ethical fashion. The recently-launched global alliance from the United Nations, aiming to combat fashion’s biggest environmental and social challenges, is just one of many high-profile examples.Ĭhanging customer demands may be the most powerful influence in shifting fashion brands and retailers, and those that do not respond quickly enough risk being left behind. World leaders and policymakers are feeling the pressure and starting to respond. We are in the middle of an era where more and more customers want to make purchasing decisions that reflect their values. People are taking to the streets demanding “climate justice”, arguing that “beautiful fashion should not cost the Earth”, and urging the industry to become “a force of cultural change”. There has never been a better time to act than now. The industry already misses out on USD 500 billion in value from clothing being worn less and barely recycled.
These trends are not only severely damaging the environment, they are limiting the opportunities for the fashion industry to succeed in the long-term. In fact, the last 15 years has seen the doubling of production, while there has been a 40% drop in the amount of time clothing are worn. According to the 2017 New Textile Economy report, from the share of clothing that is collected for reuse, less than 1% will be used to make new clothing. It’s an industry that is hugely wasteful.
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