Itsuki Davies

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Purpose

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Purpose is the final pillar and represents a brand’s greater aim and philosophy. Although generating profit is a significant aim for brands, their purpose involves the brand’s goals outside of commercial success. Purpose explores why a brand exists and what they seek to contribute to the world. It is also the central motivation that drives a brand’s evolution and trajectory. Having a greater sense of purpose creates a greater sense of trust in a brand and by standing for a purpose greater than just profit, they can connect with consumers on a deeper level (Lowe, 2023).

Figure 1: Image Credit: Brand Language Design

Consumers, especially younger generations (such as Gen Z), may pay more attention to a brand’s purpose to ensure that it aligns with their own ethics and morals, with younger people being more passionate about activism than past generations. Gen Z are also getting older which means they are becoming more influential in the market with higher purchasing power. Due to this, brands would benefit from communicating their purpose to Gen Z consumers; especially since it can build customer loyalty. Social media is an effective way of doing so with Patagonia’s bio across numerous platforms such as Instagram and Twitter being their mission statement: ‘We’re in business to save our home planet”. This makes their purpose as a sustainable, environmentally friendly brand clear to their consumers which may draw environmentally conscious consumers towards them. A survey by McKinsey showed that 70% of respondents try to purchase products from companies they consider ethical and 65% try to learn the origins of anything they buy, including how the product is made, where it’s made and what it’s made from (McKinsey & Company, 2018).

A brand’s philosophy is composed of their mission, vision and value proposition. The mission statement is a brief yet effective summarisation of the brand’s core aims, focusing more on the ‘now’ of the brand, while a vision statement communicates what the brand ultimately aspires to achieve in the future. A value proposition should clearly explain how a product benefits the consumer and fills their need as well as how it is the best option compared to competitors to appeal to the consumers’ decision making drivers (Twin, 2023). Patagonia’s mission statement provides another strong example which firmly shows their stance on environmentalism and sustainability. Nike’s vision statement is to ‘Bring inspiration and innovation to every athlete* in the world’ with the asterisk leading to another sentence saying ‘*If you have a body, you are an athlete’. This shows their inclusivity as well as their determination and ambition to be the leading force in the sportswear industry, which would appeal to consumers; especially ones who are more athletic and/or competitive.

Ultimately, purpose is essential for moulding a brand’s core character which can make it seem much more magnetic to consumers due to increased authenticity and characterisation as consumers can build a stronger connection to these brands.

Bibliography

Figure 1 – Image Credit: Brand Language Design

Francis, T. & Hoefel, F. (2018). ‘True Gen’: Generation Z and its implications for companies. McKinsey & Company. [Online] Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

Lowe, A. (2023).  Fashion Brand Management : Plan, Scale and Market a Successful Fashion Business. Kogan Page, Limited. [Online] Available at: http://ebookcentral.proquest.com/lib/ual/detail.action?docID=30353244.

Nike. What is Nike’s mission? [Online] Available at: https://www.nike.com/help/a/nikeinc-mission

Patagonia. Patagonia’s Mission Statement. [Online] Available at: https://www.patagonia.com.hk/pages/our-mission

Twin, A. (2023). Value Proposition: How to Write It With Examples. Investopedia. [Online] Available at: https://www.investopedia.com/terms/v/valueproposition.asp#:~:text=A%20value%20proposition%20should%20clearly,customer%27s%20strongest%20decision%2Dmaking%20drivers.

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karlye2

Profit

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Profit is another of the four pillars and is, arguably, the most important pillar. Fashion brands are, ultimately, businesses and businesses need to generate profit to thrive. Due to this, profit is usually the underlying motivation behind the moves taken by a brand as they strive to maximise their monetary commercial success.

The fashion industry is one of the most lucrative and largest due to its incredibly strong impact on human culture. The fashion industry is the 4th largest industry, estimating at $1.5 trillion in 2021, post pandemic. There is also an expectation for revenue to increase to $1.7 trillion in 2023, this year (Statista, 2023). There are various sectors in the fashion industry each with different commercial strategies. The luxury fashion sector has high price points and more prestige reputations which mean that even during uncertain economic times, they can maintain their high profit margins as the high-income consumer market they appeal to wouldn’t be as affected by the pandemic as lower-income consumers (Kim, 2023). Alternatively, the fast-fashion sector has lower profit margins than the luxury sector but higher profit margins than typical fashion brands due to lower price points and higher international presence. (Childs, Jin, 2015)

Figure 1: Graph showing the decline in footfall in January 2021 compared to January 2020 (Pre-Pandemic) Image Credit: BBC, ShopperTrak

n 2020, a global scale event which nobody could’ve predicted happened with the pandemic putting the world in lockdown. This had a huge impact on the fashion industry because they relied on their in-person stores to sell their products. During uncertain economic times brands need to evolve to remain competitive. In response to the pandemic, many brands had to adapt to develop a stronger online presence due to the decline in retail footfall. The e-commerce sector saw a significant increase due to the rise of online activity. The cost of living crisis also poses a threat to the industry as clothing is a necessity but after a certain price point, it becomes a luxury. Due to this, brands need to be careful with how they combat a recession. In 2008, an overwhelming percentage of companies were negatively affected but 9% flourished. This was due to those companies cutting operational costs and investing in growth strategies instead, such as marketing and R&D (Clausen, 2020).

Figure 2: Image Credit: Mitterfelner

Creative directors are the face of the brands they work for and shoulder a large amount of responsibility to bridge the gap between creative and commercial success. A creative director has to be innovative and creative whilst also maintaining leadership and management skills. They have to have a deep understanding of their brand’s visual DNA whilst also having the ability to develop and evolve the brand in order to adapt to the modern environment to meet the aesthetic need of the customer (Mitterfelner, 2023). A brand’s ability to stay true to their core DNA and identity whilst also being able to translate their designs to fit modern expectations is vital for commercial success and longevity.

Figure 3: Virgil Abloh, the creative director of Louis Vuitton’s menswear collection and Kanye West, the founder of Yeezy. Image credit: David X Prutting/BFA/REX/Shutterstock

Bibliography:

Figure 1 – Image Credit: BBC, ShopperTrak

Figure 2: – Image Credit: Mitterfelner

Figure 3 – Image credit: David X Prutting/BFA/REX/Shutterstock

Childs, M. & Jin, B. (2015). Internationalisation Of Fast Fashion Retailers: Does It Follow The Uppsala Model?. Springer. [Online] Available at: https://link.springer.com/chapter/10.1007/978-3-319-10912-1_221#:~:text=For%20example%2C%20profit%20margins%20for,higher%20for%20fast%20fashion%20retailers.

Clausen, E. (2020). Marketing Rules To Follow During Uncertain Economic Times. Forbes. [Online] Available at: https://www.forbes.com/sites/forbesagencycouncil/2020/04/03/marketing-rules-to-follow-during-uncertain-economic-times/?sh=55840c374a36

Kim, M. (2023). The Surprising Reason Luxury Goods Are Blooming. Vox. [Online] Available at: https://www.vox.com/money/23728283/luxury-designer-boom-nike-lvmh-pandemic-le-creuset

Mitterfelner, O. (2023). Luxury Fashion Brand Management: Unifying Fashion With Sustainability. Taylor & Francis Group. [Online] Available at: https://ebookcentral.proquest.com/lib/ual/reader.action?docID=7260416

Statista, 2023. Global Apparel Market – Statistics & Facts. [Online] Available at: https://www.statista.com/topics/5091/apparel-market-worldwide/#topicOverview

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People

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‘People’ is one of the four pillars of fashion, concentrating on a fashion brand’s relationship with its consumers, keeping various factors in mind; such as a brand’s image and diversity aspirations in relation to the target audience of consumers they are aspiring to market to. People can be categorised in numerous ways, including age, gender, sexuality, hobbies, race, and religion. Age is an incredibly significant factor as people in various age groups and generations may look for different aspects from a brand. Gen Z is currently the most prevalent group of consumers that many brands are looking to appeal to. Gen Z is categorised as people born between 1995 and 2010, making them ‘digital natives’; having grown up around the internet their entire lives, heavily influencing their culture and mindsets.

Figure 1, Image Credit: Barclays Bank

Gen Z is the generation most comfortable with technology which, in turn, influences their methods of consumption. The majority of Gen Z consumers say they use social media as their primary source of shopping inspiration (Kastenholz, 2021). In order for a brand to attract a Gen Z consumer market the brand has to have a strong online presence which can be obtained through an effective website, as well as online advertising. An article by McKinsey shows that ‘Gen Zers are known for working, shopping, dating, and making friends online; in Asia, Gen Zers spend six hours on the phone’. This shows that online resources are the most effective tool for a brand to reach a Gen Z market.

Figure 2, Image Credit: Balenciaga

A brand can also attract Gen Z consumers by expressing diversity and values which align with Gen Z, who are more progressive and inclusive when compared to previous generations. An example of this would be showing support for the LGBT community, which many established brands have been doing. Balenciaga is a strong example of this, with their Pride Month 2021 collection, showcasing hoodies inspired by Gap hoodies with the ‘P’ changed to a ‘Y’, shown in Figure 2. However, there are also key people skills needed for a brand to maintain a good public image, with one of these skills being self-awareness. Balenciaga is, again, an effective example with two of their 2022 campaigns sparking outrage. The first featured children holding handbags that resembled teddy bears in bondage gear with the second featuring paperwork concerning child pornography laws (Paton, Friedman, Testa, 2022). This caused significant outrage which led to Balenciaga’s reputation to be in jeopardy, completely ruining the momentum that they had been building previously.

Bibliography

Kastenholz, C. (2021). Gen Z And The Rise Of Social Commerce. [Online] Available at: https://www.forbes.com/sites/forbesagencycouncil/2021/05/17/gen-z-and-the-rise-of-social-commerce/?sh=3fe327d251d0

Paton E., Friedman, V., & Testa, J. (2022). When High Fashion And QAnon Collide. The New York Times. [Online] Available at: https://www.nytimes.com/2022/11/28/style/balenciaga-campaign-controversy.html

What is Gen Z? (2023). McKinsey. [Online] Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z

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Planet

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Figure 1

The four pillars of sustainability which the fashion industry is expected to uphold are vital in preserving the integrity of the industry. One of these four pillars is ‘Planet’ which focuses on the environmental impact caused by the fashion industry. The fashion industry is the third most polluting industry, producing a staggering 10% of our annual carbon footprint (The world’s most polluting industries, 2023). This is mainly at the fault of the industry’s excessive use of waste, cheap materials, manufacturing locations, transport from online orders, and plastic fibres which pollute the oceans, due to this, it can be drawn into debate whether its truly moral for mankind to seemingly prioritise aesthetic over our planet. The US alone discards roughly 11.3 million tonnes of textile waste annually, which is the equivalent to around 1250 pieces of clothing each second. Changing fashions mean their lifespan is artificially shortened by consumers changing tastes. Industry figures suggest modern clothing will have a lifespan between 2-1- years (Beall, 2020). This draws the question of whether the fashion industry as a whole is inherently unsustainable. Due to the large negative impact to the environment spawning from the industry, there has been a raised amount of consumer awareness which, along with the UN’s Sustainable Development Goals (SDG’s) which are expected to be reached by 2030, has placed a large amount of pressure on the fashion industry to operate in a vastly more sustainable and environment-friendly way.

The United Nation’s SDG’s

The United Nations developed the Sustainable Development Goals which are a set of 17 goals to be achieved in the name of creating a more sustainable and equitable world. These goals range social, economic and environmental forms of sustainability. from In 2019, the luxury group Kering, which owns fashion houses such as Gucci, Balenicaga and Alexander McQueen, led an initiative involving 32 major fashion brands, including Adidas, Nike and Burberry, to sign a Fashion Pact to promise to lower the amount of harm to the environment that is caused by the fashion industry. ‘To protect the oceans, the pact urges cutting the use of single-use plastics by 2030 and reducing micro-fiber ocean pollution created through consumers’ washing of synthetic materials.’ (Cheng, 2019). This aligns with the UN’s 14th Sustainable Development Goal to protect life below water.

Circular Economy

The concept of a circular economy is the development of a system in which materials never become wastage and materials are kept in constant circulation through methods involving reuse, recycling, refurbishing, repurposing and repairing products in order to keep them out of landfills and contributing to the damage to the environment. With this information at hand, the question is how these fashion brands are performing in terms of environmental impact. This is answered by consulting firm Kearney who have been running the Circular Fashion Index (CFE) since 2020, yearly. In their 2023 review which ran an assessment on around 200 brands, Kearney found that there is still an ultimate lack of urgency in the development of sustainable consumption and product development, a fault shared by both the brands and consumers. This year’s average CFX score, across the 200 fashion brands analyzed, is just 2.97 out of 10 (Ehrig et al. 2023). This score isn’t much different from the industry’s 2022 score, showing that the fashion industry’s change is still slow. However, Kearney also released a Top 10 list of performers which includes the brands that have made the most effort to improve their environmental impact. This list includes Patagonia, Levi’s and The North Face in their top three, respectively, with Gucci ranked in 5th place. This is mainly through the brands’ increased use of promotion and communication of circularity, with Levi’s also creating a separate page dedicated to selling recycled denim products as well as disclosing their carbon footprint. These brands set a blueprint for the road to environmental sustainability that other brands should strive to also uphold.

Bibliography:

Figure 1 – Image Credit: Getty Images/Drachev, V

Beall, A (2020) Why clothes are so hard to recycle [Online] Available at: https://www.bbc.com/future/article/20200710-why-clothes-are-so-hard-to-recycle

Cheng, A (2019) Major Fashion Companies Sign Pact Vowing To Reduce Industry’s Environmental Impact [Online] Available at: https://www.forbes.com/sites/andriacheng/2019/08/23/major-fashion-companies-sign-pact-vowing-to-reduce-industrys-environmental-impact/?sh=73883c1a4db1

The World’s Most Polluting Industries (2023) [Online] Available at: https://climatetrade.com/the-worlds-most-polluting-industries/

Ehrig, B et al. (2023) The Kearney CFX 2023 report: consumers don’t know and brands don’t act [Online] Available at: https://www.kearney.com/industry/consumer-retail/article/-/insights/the-kearney-cfx-2023-report-consumers-don-t-know-and-brands-don-t-act

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