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In the modern, diverse, and inclusive global market, the fashion business is a symbol of innovation, creativity, and self-expression. It is anticipated that the global fashion industry would be worth $1.7 trillion in the year 2022. It is anticipated that the market would expand by 1.96 percent (2022) by the year 2027. The fashion business covers a wide variety of sub-industries, from haute couture and luxury jewellery to fast fashion, and each of these sub-industries contributes to the industry’s enormous scale and diversity.

However, the fashion industry in each sector operates in a distinctive manner. Fast fashion is characterised by its reliance on rapid production cycles and price strategies that are more competitive, in contrast to high-end luxury brands, which typically derive much of their attraction from the importance they place on history and exclusivity. On the other hand, mid-range and independent businesses have effectively carved out their own market section by deftly integrating components of high quality, affordable pricing, and distinctive aesthetics (Ndure, 2023). This has allowed them to successfully carve out their own market segment.

In addition, when thinking about ways to bring in money, advertising is an important factor to consider. Within the context of the fashion industry, advertising plays an essential and important part by acting as a main catalyst for the generation of revenue and changing consumers’ perceptions of brands. Additionally, advertising serves the objective of recruiting particular target demographics, increasing sales performance, providing major help to market development attempts, and ultimately assisting businesses in preserving their competitive edge. Advertising is effective not just because of its potential to bring in new customers, but also because of the critical role it plays in developing and retaining the loyalty of existing clients. As a direct result of this, the construction of a stable and reliable source of income for the business is made easier. The choice of a model or spokesperson to represent a certain brand can have a considerable influence on the amount of money the brand brings in. Additionally, there is the possibility for considerable revenues to be made through the use of a variety of video software (Costa, 2023).

To provide a brief overview, the fashion industry is a huge and dynamic ecosystem that has a great influence on culture, contributes to the formation of identities, and drives the advancement of the economy. For brands that want to be successful in this world, which is always altering and evolving, it is vital to have a solid understanding of the sheer vastness of this environment, the distinctive manifestations of each industry, and the strategies for being competitive during times of challenging economic conditions. In order to ensure that the fashion industry continues to develop and produce a profit, it is the duty of Creative Directors to find a happy medium between the artistic expression of their designs and the needs of the business.

Left brain of the clothing industry; must-know fashion industry statistics for 2023 – word nerd (2022) LEFT BRAIN OF THE CLOTHING INDUSTRY; MUST-KNOW FASHION INDUSTRY STATISTICS FOR 2023 – Word Nerd. Available at: https://www.wordnerd.eu/blog/fashion-industry-statistics-for-2023 (Accessed: 23 October 2023).

Costa, M. (2023) How to make money in fashion: 7 ways, Clever Girl Finance. Available at: https://www.clevergirlfinance.com/how-to-make-money-in-fashion/ (Accessed: 23 October 2023).

Ndure, I. (2023) Luxury vs fast fashion: Are consumers favouring quality over quantity?, Just Style. Available at: https://www.just-style.com/news/luxury-vs-fast-fashion-are-consumers-favouring-quality-over-quantity/ (Accessed: 23 October 2023).

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People

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In a contemporary age marked by rapid changes, Generation Z stands as the most populous cohort, accounting for around 25% of the global populace, and has exerted a substantial influence on both cultural and economic domains (Schneider & Lee, 2023).Generation Z is emerging as a formidable force, exerting substantial influence across all sectors, hence yielding profound consequences. Simultaneously, the fashion business is being notably influenced by Generation Z in relation to sustainability, owing to many factors.

Firstly, Generation Z has a high demand for transparency as they have grown up in an era of easy access to information, and with early access to the internet, they want to be certain of the origin and manufacturing process of various items. At the same time, the current trend among Gen Z consumers is towards sustainable and eco-conscious fashion, with a growing preference for second-hand and vintage fashion, and The RealReal reported a 44 per cent increase in the number of items purchased on its platform in its Luxury Resale Report 2022. There has also been a surge in the phenomenon of “flipping,” where a customer buys an item and then sells it again a few months or weeks later. The vintage trend cycle is synchronised with fast fashion (Warchol, 2022). This phenomenon is in line with the concept of sustainability, as it reduces the amount of resources needed to manufacture new garments.

Conversely, the promotion of inclusivity and diversity is a distinctive feature of Generation Z, who hold these values very dear. Increasingly, there are advocates for greater inclusiveness in the fashion industry (Harrell, 2023). An example of this is Skims, a brand fronted by Kim Kardashian, which has a brand philosophy of SOLUTION FOR EVERYBODY. at the same time, Skims also emphasises self-confidence and self-love, encouraging women to embrace their own bodies and showcasing models of all shapes and sizes and skin colours in their advertisements (Skims 2019). This social change promotes a wider and more favourable perception of beauty and fashion.

In conclusion, the impact of Generation Z on the fashion industry and sustainability is undeniable. Consumers’ demand for greater transparency, their preference for sustainable choices and their support for ethical behaviour are all largely influencing the operational strategies of fashion companies. This generation is actively asserting its beliefs and tastes and is catalysing a transformation of the fashion industry, leading it towards a more responsible and sustainable future. Adopting these changes will not only benefit the environment, but will also build a more holistic and ethical fashion industry for the next generation.

(2019) Skims. Available at: https://skims.com/pages/about (Accessed: 15 October 2023). 

Warchol, K. (2022) Is gen Z killing vintage fashion? – elle. Available at: https://www.elle.com/fashion/shopping/a41174615/is-gen-z-killing-vintage-fashion/ (Accessed: 15 October 2023). 

Harrell, C. (2023) 7 gen Z trends that are quickly changing the world, Brainz Magazine. Available at: https://www.brainzmagazine.com/post/7-gen-z-trends-that-are-quickly-changing-the-world (Accessed: 15 October 2023). Schneider, B. and Lee, D. (2023) Bof Insights: Gen-Z and fashion in the age of realism, The Business of Fashion. Available at: https://www.businessoffashion.com/reports/retail/gen-z-fashion-in-the-age-of-realism-bof-insights-social-media-report/ (Accessed: 15 October 2023).

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PLANET

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The fashion industry is a massive global enterprise that affects not only human beings but also the environment. While fashion has provided jobs and a means of self-expression for millions of people, its impact on the environment cannot be overlooked (UNEP, 2018). The fashion industry has a significant impact on the environment, including the depletion of natural resources, the generation of waste and pollution, and the release of greenhouse gases (UNEP, 2022). This is against the sustainable development agenda, which calls for the responsible use of resources and the protection of the environment for future generations including good health and well-being, sustainable cities and communities, and life on land (United Nations, 2022). The overproduction of clothing and the use of synthetic materials and harmful chemicals in the production process are just a few examples of how the fashion industry negatively affects the environment. This essay will focus on the role of the environment sphere within the fashion industry. In particular, the fashion industry’s environmental impact on water resources through microbead pollution of marine ecosystems and water waste. And it poses a threat to the health of animals and humans by releasing toxic water. Besides, the solutions helping solving the problems will be discussed too.

In addition, the fashion industry is also responsible for contributing to water waste and pollution. Water conservation is a key concern confronting humanity in present day, requiring the fashion industry to assume accountability for its practises pertaining to water resources. The Levi’s Water<Less campaign was initiated by Levi Strauss & Co, a prominent entity within the fashion business. The fashion industry has been the driving force behind initiatives like Water<Less, which has also engaged in collaborations with several other industries in order to accomplish its objectives. 

Launched in 2011, Water<Less focuses on reducing water usage during fabric finishing processes (Water.org, 2012). Levi Strauss & Co (LS&Co) has successfully integrated several advancements into its manufacturing processes, including the adoption of new dyeing procedures and laser technology for cutting denim materials, thereby eliminating the need for water consumption. This results in a substantial decrease in water usage as compared to conventional techniques. Since its launch, LS&Co has reported saving over two billion liters of water and reducing greenhouse gas emissions equivalent to taking more than half a million cars off the road annually (Levi Strauss & Con, 2020).

United Nations (2022). United Nations Sustainable Development. [online] United Nations Sustainable Development. Available at: https://www.un.org/sustainabledevelopment/.

United Nations Environment Programme. (2018). Single-use plastics: A roadmap for sustainability. Retrieved from https://wedocs.unep.org/bitstream/handle/20.500.11822/25496/singleUsePlastic_sustainability.pdf?sequence=1&isAllowed=y

UNEP (2022). The environmental costs of fast fashion. [online] UNEP. Available at: https://www.unep.org/news-and-stories/story/environmental-costs-fast-fashion.

Water.org. (2012). Levi’s® Water. [online] Available at: https://water.org/about-us/news-press/levis-waterless-campaign/.

Levi Strauss & Co (2020). Sustainability Report. [online] Available at: https://www.levistrauss.com/wp-content/uploads/2021/09/LSCo.-2020-Sustainability-Report.pdf.

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