Maggie He

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Purpose

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Understanding the aim of a fashion brand is important for various reasons. One of which is brand identity. Understanding the purpose assists in defining the brand’s identity and distinguishing it from competitors. It defines the brand’s core principles and the distinct benefits it provides to customers. As a result, it is critical for developing a strong brand identity and serves as the basis upon which the brand’s success and reputation are established.

For fashion brands, brand philosophy, which encompasses goal, vision, and value proposition, plays an important role since it serves as a guide. It outlines the essential purpose and rationale for the brand’s existence, offering a clear sense of direction and assisting in the alignment of all elements of the business, from product creation to marketing strategies. Stella McCartney’s brand philosophy is “We strive to create the most beautiful and desirable products with the least impact on our planet” (McCartney, 2023). This means engaging in practices that will sustain not only the business but also the environment and the people residing in that environment (Londrigan & Jenkins, 2018). Sustainable fashion is becoming something consumers are expecting from brands. As consumer awareness of environmental issues such as climate change and pollution grow, they are looking for ways to reduce their own environmental impact. Therefore, sustainable fashion allows them to make more environmentally responsible choices. As a result, brands that prioritise sustainability are more likely to connect with customers and earn their loyalty over time. In summary, a well-articulated brand philosophy serves as a decision-making framework, develops customer loyalty, and attracts the ideal audience.

Nike’s collaboration with Billie Eilish – a popular singer among Generation Z as well as being one of Gen Z herself – uses leftover material waste from the artist’s prior collaborative AF1 High. The Nike x Billie Eilish AF1 Low underscores Nike and Eilish ’s shared commitment to taking action to create a better world (Nike, 2022). Advancing a democratic approach to sustainability concerns alongside a public figure is a smart approach from Nike for communicating its purpose – sustainability – to Gen Z. According to McKinsey & Company Gen Z often choose brands that have a strong purpose, as well as those committed to green practices. 73% of Gen Z reported trying to purchase from companies they consider ethical, and nine out of ten believe that companies have a responsibility to address environmental and social issues (McKinsey&Company, 2023). As a result, establishing a commitment to sustainable and ethical production and sourcing practises is critical for connecting with Gen Z, who are deeply concerned about environmental issues. Similarly, in addition to promoting the concept of sustainability, Nike has created collaborations with public figures. Collaboration with influencers who are aligned with the brand’s purpose can help spread the message, as Gen Z frequently looks up to influencers as trustworthy sources of knowledge and inspiration. As a result, by implementing both strategies, Nike will be able to effectively express their purpose to Gen Z, forming deep and enduring bonds with this socially concerned generation. Maintaining trust and engagement requires consistency and long-term commitment to the brand’s goal. 

Bibliography

Londrigan, M. & Jenkins, J., 2018. Fashion Supply Chain Management. First Edition ed. New York: Fairchild Books.

McCartney, S., 2023. Stella McCartney. [Online] 
Available at: https://www.stellamccartney.com/us/en/sustainability/sustainability.html#:~:text=We%20strive%20to%20create%20the,behind%20our%20products%20and%20innovations.
[Accessed 28 October 2023].

McKinsey&Company, 2023. What is Gen Z?. [Online] 
Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z
[Accessed 29 October 2023].

Nike, 2022. Nike x Billie Eilish AF1 Low. [Online] 
Available at: https://about.nike.com/en/newsroom/releases/nike-x-billie-eilish-af1-low
[Accessed 28 October 2023].

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Profit

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Profit is the focus this week. Profit is important in the fashion industry for a variety of reasons. One of which is that it allows for a cycle of growth – a process in which things constantly improve. Profitability allows fashion firms to invest in high-quality materials and skilled craftsmanship. This results in better products that are more long-lasting, appealing, and satisfy the expectations of the audience, resulting in more profit, which is then reinvested back into the firm and product to attract more customers and create more profit.

In 2022, the revenue of the apparel market in the UK was estimated to be 58.5 billion British pounds, less than in the previous year. However, the market is projected to recover, eventually reaching more than 75 billion British pounds by 2026 (Smith, 2023). The global pandemic, Covid-19, had a severe impact on the fashion sector, affecting numerous aspects of the firm, which caused its demise in 2022. According to Euromonitor the global apparel and footwear market size shrunk in 2020 by -18.1% (to $1.45 trillion), while McKinsey states that the fashion and apparel industry suffered a 20% decline in revenues for the 2019-2020 fiscal year (FashionUnited, 2023) (McKinsey, 2022). The pandemic caused supply chains to be interrupted, with lockdowns and shutdowns of factories causing delays in both production and product distribution. Similarly, as a result of economic instability and job losses, many consumers limited their spending power, resulting in lower sales for numerous fashion brands and store closures – an estimated 17,145 retail stores in UK closed throughout 2022 (Statista, 2023). 

Various sectors of the fashion industry are currently recovering from Covid-19. Many areas saw a modest recovery in sales when lockdown limitations were eased. Even though physical stores have reopened, e-commerce will remain a key growth sector, as many consumers became acclimated to online purchasing during the pandemic and continued to do so even when physical stores reopened. Furthermore, the pandemic raised consumer awareness of sustainability, which remained a motivating element in purchase decisions (Deloitte, n.d.). As a result, brands with strong sustainability credentials remained in high demand. 

To remain competitive in uncertain economic times, brands must be adaptable and focus on satisfying changing consumer needs. A brand, for example, may continuously collect and analyse data on consumer preferences and behaviours. This aids in recognising changing consumer preferences and modifying products or services accordingly. It is also critical to embrace digital transformation. Use technology to improve the brand’s internet presence and e-commerce skills. Covid-19 is an example of an uncertain economic time, and Peloton is an example of a brand that thrived during this period. With many gyms temporarily closed owing to lockdowns, demand for at-home workout alternatives increased. As a result, Peloton’s connected equipment and live-streamed sessions suited to this expanding trend. Thus, Peloton experienced significant growth during the pandemic due to their ability being able to adapt to changing circumstances. 

Creative directors are essential in the fashion business as they balance creativity and commercial viability. Understanding the brand’s identity and audience is one method creative directors bridge the gap between creativity and commerce. Creative directors intimately understand the brand’s target audience and the market in which it operates. This understanding influences their creative choices, ensuring that their designs are appealing to consumers. Today’s most visible examples of art and business overlap admirably, but they also survive due to a simple fit between the brand’s audience and the artwork. Burberry and British music groups, for example, benefit from a shared sense of national style (Ahmed, 2013). As a result, creative directors play an important role in ensuring that fashion designs not only attract audiences but also contribute to the brand’s financial success by efficiently integrating their creative vision with a strong awareness of the market and brand objectives.

Bibliography

Ahmed, A., 2013. Bridging the gap between art and business. [Online] 
Available at: https://www.theguardian.com/media-network/media-network-blog/2013/oct/16/bridging-gap-art-business
[Accessed 21 October 2023].

Deloitte, n.d. How consumers are embracing sustainability. [Online] 
Available at: https://www2.deloitte.com/uk/en/pages/consumer-business/articles/sustainable-consumer.html
[Accessed 21 October 2023].

FashionUnited, 2023. Global Fashion Industry Statistics. [Online] 
Available at: https://fashionunited.com/global-fashion-industry-statistics#:~:text=Revenue%3A%20%241.7%20trillion%20dollar%20industry,reports%20by%20Euromonitor%20and%20McKinsey.
[Accessed 21 October 2023].

McKinsey, 2022. State of Fashion 2022: An uneven recovery and new frontiers. [Online] 
Available at: https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion#section-header-2022
[Accessed 21 October 2023].

McKinsey, 2023. State of Fashion 2022: An uneven recovery and new frontiers. [Online] 
Available at: https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion#section-header-2022
[Accessed October 21 2023].

Smith, P., 2023. Apparel market in the United Kingdom (UK) – statistics & facts. [Online] 
Available at: https://www.statista.com/topics/3348/apparel-market-in-the-uk/#topicOverview
[Accessed 21 October 2023].

Statista, 2023. Number of retail store closures in the United Kingdom from 2018 to 2022. [Online] 
Available at: https://www.statista.com/statistics/1356731/retail-store-closures-uk/#:~:text=An%20estimated%2017%2C145%20retail%20stores,during%20which%2011%2C459%20stores%20closed.
[Accessed 21 October 2023].

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People

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People are absolutely crucial to the fashion industry. They play vital roles at every stage of the fashion supply chain, from design and production to marketing and sales. Therefore, todays focus is on the pillar, ‘People’, and with a specific focus on Gen Z. 

Generation Z (Gen Z), born roughly between the mid-1990s and early 2010s, is a highly important demographic for fashion brands as they now represent a broad – and for most fashion businesses, crucial – swathe of consumers (Morgan , 2022). In order to draw in this significant consumer base, brands should concentrate on strategies that complement their distinct traits and preferences. Members of Gen Z are true ‘digital natives’ – the first generation to grow up with the internet as a part of daily life (McKinsey&Company, 2023). As a result, one strategy for attracting Generation Z is to embrace digital media. Creating a strong online presence on social media sites such as Instagram, TikTok, and Snapchat in order to engage with Gen Z via visually appealing material, videos, and interactive features. Furthermore, diversity is a major concern for Generation Z. According to BOF, Gen Z is more adamant that brands, products, and marketing stand for something and reflect their values relating to topics ranging from mental health to climate change, while also acknowledging their diversity (BOF, 2023). Brands, for example, might advocate for inclusivity and diversity. They may achieve this by featuring diverse models, employees, and brand ambassadors in the company’s advertising campaigns, as well as celebrating diversity and actively promoting representation throughout all elements of the brand. Similarly, brands might prioritise sustainability and ethics in order to reflect consumer beliefs on climate change. For example, promoting eco-friendly materials, ethical sourcing, and production methods can demonstrate a commitment to sustainable and ethical practises.

Nike’s ‘Dream Crazier’ ad, starring tennis athlete Serena Williams, is one famous example of a company responding to diversity. This campaign, which debuted in 2019, celebrates the successes and objectives of women in athletics, highlighting the challenges they encounter and the barriers they overcome. The campaign honoured female athletes’ previous achievements while also emphasising the prejudices, biases, and inequalities they frequently face. It encouraged women and girls to defy traditions and pursue their aspirations despite cultural pressures. Nike not only resonated with the ideals of many of its consumers by embracing diversity in such a prominent and meaningful way, but it also displayed its commitment to creating positive change in the sports industry. 

Fashion businesses are starting to look for people who come from a technology background (Amed, Berg, 2022). The fashion industry is going through a digital transformation. Technology is being used by brands to improve different parts of their operations, such as design, production, marketing, and sales. Similarly, e-commerce growth has been a major player in the fashion business. As a result, businesses require experts in technical areas of online shopping, such as website creation and digital marketing.

Bibliography

Amed, Berg, I. A., 2022. The State of Fashion: Technology. [Online] 
Available at: https://www.businessoffashion.com/reports/news-analysis/the-state-of-fashion-technology-industry-report-bof-mckinsey/
[Accessed 03 May 2022].

Anon., n.d. [Online].

BOF, 2023. How to Decode Gen-Z’s Evolving Relationship With Beauty. [Online] 
Available at: https://www.businessoffashion.com/articles/beauty/the-state-of-fashion-beauty-report-gen-z-diversity-consumer-behaviour-trends/#:~:text=Yet%2C%20as%20the%20most%20diverse,while%20also%20acknowledging%20their%20diversity.
[Accessed 13 June 2023].

McKinsey&Company, 2023. What is Gen Z?. [Online] 
Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z
[Accessed 20 March 2023].

Morgan , G., 2022. Gen Z and Millennials 2022 report. [Online] 
Available at: https://www.drapersonline.com/insight/drapers-bespoke/gen-z-and-millennials-2022-report
[Accessed 9 May 2022].

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Planet Blog Post

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The four fundamental pillars that dominate the sustainability of fashion are the planet, people, profit, and purpose. These four concepts form the basis around which all brands and companies base their operations. As a result, this week’s emphasis is on the pillar ‘Planet’ and how the fashion business alters the environment in which we live.

The enormous quantity of pollution that is created throughout the process of farming resources, manufacturing clothing, and shipping garments is one concern with fashion for the environment. According to statistics, the fashion sector contributes 8–10% of the world’s emissions (Stallard, 2022). This is due to the production process and the transport and distribution of clothing, all producing significant amounts of greenhouse gas emissions. For instance, it requires a lot of energy to produce textiles, including raw materials (such cotton), process the fibres, and making garments. It entails burning fossil fuels, which release greenhouse gases into the atmosphere such as carbon dioxide and methane, both of which cause global warming. The risk of greenhouse gas emissions also exists throughout the stage of transportation and distribution. Global supply chains are crucial to the fashion industry as they enable the long-distance movement of raw materials, textiles, and completed garments. Therefore, additional emissions result from this. On the other hand, attempts are being taken to address these challenges, such as the creation of eco-friendly materials, the promotion of circular economy practises, and sustainable and ethical fashion movements. However, there is still much work to be done to mitigate the fashion industry’s impact on climate change.

Circular economy and “sustainable movements” were previously mentioned. Sustainability is the process of making, consuming, and discarding clothing in a way that has the least negative impact on the environment and society and has the greatest positive effects on people. The circular economy is one strategy for achieving sustainability in the fashion industry. The circular economy seeks to reduce waste while extending the life and value of garments and textiles. To achieve this, the circular economy is based on three principles: eliminate waste and pollution, circulate products and materials, regenerate nature. An example where a brand is leading the way in the circular economy is Stella McCartney. Stella McCartney is a luxury fashion brand known for its strong emphasis on sustainability. They incorporate circular principles into their designs, by promoting repair and resale and using sustainable materials. Therefore, by adopting a circular economy approach, the fashion industry aims to reduce its environmental footprint, conserve resources, and promote a more sustainable and responsible way of producing and consuming clothing. 

SDG 12: “Ensure sustainable consumption and production patterns” is one UN SDG that is highly relevant to the fashion industry. SDG 12 is about ensuring sustainable consumption and production patterns, which is key to sustain the livelihoods of current and future generations (United Nation , 2023). SDG 12 has an impact on the fashion industry as it asks for more environmentally friendly production practises, making it essential for the sector to reduce its environmental footprints. This might be accomplished by using less energy or water (Malone, 2013) since a T-shirt requires 2700 litres of water to produce.

Bibliography:

Malone, J., 2013. It Takes 2,700 Liters of Water to Make a T-Shirt. [Online] 
Available at: https://www.triplepundit.com/story/2013/it-takes-2700-liters-water-make-t-shirt/54321#:~:text=The%20growth%2C%20manufacturing%2C%20transporting%2C,the%20t%2Dshirt%20once%20purchased.
[Accessed 06 February 2013].

Stallard, E., 2022. Fast fashion: How clothes are linked to climate change. [Online] 
Available at: https://www.bbc.co.uk/news/science-environment-60382624#:~:text=Producing%20clothes%20uses%20a%20lot,the%20aviation%20and%20shipping%20combined.
[Accessed 29 July 2022].

United Nation , 2023. Sustainable Development Goals. [Online] 
Available at: https://www.un.org/sustainabledevelopment/sustainable-consumption-production/#:~:text=Goal%2012%3A%20Ensure%20sustainable%20consumption%20and%20production%20patterns&text=Goal%2012%20is%20about%20ensuring,of%20current%20and%20future%20generations.
[Accessed 2023].

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