Lan Sze-To

A company’s foundation is built on its purpose. It communicates to both its employees and customers the reason for its existence and to make purchases. It is closely tied to three key pillars- people, planet, and profit. By having a defined purpose, such as promoting body positivity or sustainability, customers are more likely to support the brand because it aligns with their values. Thus, brands would be more profitable from sales. All of this is possible because the brand has a clear mission and vision for what it wants to achieve. A clear brand philosophy helps to differentiate the brand from competitors and attract target audiences that align with its values and beliefs.

Companies can apply their purpose through Corporate Social Responsibility (CSR) which refers to companies that commit to ethical and responsible business practices (Londrigan and Jacqueline, 2023). According to a study, around 55% of global online consumers across 60 countries say they are willing to pay more for products and services provided by companies that are socially responsible and sustainable (Londrigan and Jacqueline, 2023), indicating that consumers prefer making purchases that make a positive contribution to the world. There are many brands that support CSR and sustainability in the fashion industry. One example brand that prioritizes them is Stella McCartney. According to her website, the brand philosophy revolves around responsibility, transparency, and equality (Stella McCartney, 2022). She also reduced the environmental impact of her brand, such as using organic cotton and recycled polyester in her designs and refusing to use leather or fur in her collections. McCartney’s commitment to CSR has helped to position her brand in sustainable fashion and earned a loyal consumer base that values ethical and environmentally conscious products. 

Brands that have a clearly defined purpose are increasingly popular among consumers, particularly younger generations who are more likely to prioritize ethical and sustainable practices when making purchasing decisions. By aligning their brand with a purpose, companies can build a loyal customer base and differentiate themselves in the fashion market. Brands should use social media platforms such as Instagram and TikTok to communicate their brand purpose. Through multi-thousand follower, influencer collaborations is an effective way to reach numerous audiences. Nike collaborated with like-minded celebrities including Kobe Bryant, Cristiano Ronaldo, Lebron James, and many more influencers in the sports industry to “bring inspiration and innovation to every athlete in the world”(Nike, 2019). 

Bibliography: 

Londrigan, M.P. , and Jenkins, J.M. (2018). Corporate Social Responsibility and Sustainability. New York: Fairchild, [Online] Available at: http://dx.doi.org/10.5040/9781501317798.ch-003/. 

Stella McCartney (2022). Stella McCartney GB | Designer RTW, Bags & accessories, Lingerie, Adidas by Stella McCartney, Fragrances, Kids. [online] Available at: https://www.stellamccartney.com/gb/en/.

Nike (2019). What Is Nike’s Mission? | Nike Help. [online] Available at: https://www.nike.com/gb/help/a/nikeinc-mission.

In this capitalist-driven society, profit is essential for companies to define success. Profit enables companies to grow, expand, and offer better experiences for consumers. The apparel market, for instance, is worth approximately 1.75 trillion dollars, with a 13.7% annual growth rate (Oberlo,2023). The McKinsey report (2021) states that global online fashion sales nearly doubled during 2018 and 2020, especially in the US and China. Given the increasing economic value and global reach, the fashion industry undoubtedly holds immense importance.

The fashion industry comprises various sectors, including clothing, footwear, textiles, leather, fur products, jewellery, and accessories (Accessed, 2023). The apparel sector is the foundation of the fashion industry, and it typically generates a significant portion of the industry’s total revenue. However, the pursuit of profit can sometimes lead to economic downfall or ethical concerns. To avoid such issues, fashion companies must adopt a multifaceted approach, such as diversifying their marketing campaigns and incorporating sustainable products that appeal to a wider consumer base.

During the 20s, MCM faced a significant downfall due to changes in consumer preference, distribution issues, and loss of brand identity. However, the brand managed to overcome these challenges by recognizing the importance of an online presence and engaging in effective digital marketing. The brand used social media, e-commerce, and influencer partnerships to connect with a broader and younger consumer base. In addition, MCM diversified its product lines to include more wearable collections such as, footwear and accessories, to broaden its appeal and revenue streams (Mitterfellner, 2023). Through redefining the brand’s identity and diversifying their product line from the new creative director, MCM successfully managed to overcome the downfalls and stage a remarkable comeback.

Although fashion is a business, it is closely tied to art. It is crucial for creative directors to bridge the gap through collaboration and by linking garments directly with artistic expression (Ahmed, 2013). An excellent illustration of this concept is Louis Vuitton’s partnership with Yayoi Kusama in 2012. Integrating Kusama’s signature polka dots and vibrant colours into Louis Vitton’s products allowed Kusama’s art to become wearable and accessible to a broader audience. The collaboration showcased the brand’s willingness to embrace and celebrate contemporary art, which resonated with a younger artistic consumer base and further enhanced the brand’s image.

Bibliography:

McKinsey & Company (2021). The State of Fashion 2022. [online] McKinsey. Available at: https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/state%20of%20fashion/2022/the-state-of-fashion-2022.pdf.

Oberlo (2023). Apparel Industry Statistics (2012–2025) | Oberlo. [online] www.oberlo.com. Available at: https://www.oberlo.com/statistics/apparel-industry-statistics.

Mitterfellner, O. (2023) Luxury Fashion Brand Management and sustäinability: Unifying fashion with sustainability. New York: Routledge. [online] Available at: 

https://ebookcentral.proquest.com/lib/ual/reader.action?docID=7260416&ppg=150

single-market-economy.ec.europa.eu. (n.d.). Fashion and high-end industries in the EU. [online] Available at: 

https://single-market-economy.ec.europa.eu/sectors/textiles-ecosystem/fashion-and-high-end-industries/fashion-and-high-end-industries-eu_en#:~:text=These%20industries%20form%20complex%20and,to%20their%20distribution%20and%20retail.

Diderich, J. (2022). EXCLUSIVE: Louis Vuitton Takes Over Tokyo for Yayoi Kusama Collaboration Launch. [online] WWD. Available at: https://wwd.com/fashion-news/fashion-scoops/louis-vuitton-tokyo-takeover-launch-second-collaboration-yayoi-kusama-1235429524/.

Ahmed, A. (2013). Bridging the gap between art and business | Ajaz Ahmed. [online] the Guardian. Available at: https://www.theguardian.com/media-network/media-network-blog/2013/oct/16/bridging-gap-art-business.

In this ever-changing world of fashion, companies often take profit over societal and environmental issues, resulting in inequality, overproduction, resource depletion, etc. A report by WRAP found that around 300,000 tonnes of clothing is discarded each year in the UK (Gwilt, Alison, 2020). Imagine the amount of waste created each year globally.

In order to reduce environmental damage, it is crucial to understand the four pillars of the fashion business: People, Planet, Profit, and Purpose. The one that relates to the environment is Planet. According to Allwood et al (2006), the fashion industry contributes to natural resources, such as fossil fuels, to generate energy for production. It releases toxic chemicals which may affect human health. Also, water is depleted for fabric crops, clothing manufacturing, and laundering. These processes pollute our waterways and clean water(Gwilt, Alison, 2020). The instances exemplify the need to be more sustainable. But what does sustainable mean? And how do companies become more sustainable?

Being sustainable refers to brands that make ethical and eco-friendly decisions. It can be companies that ensure proper working conditions, use higher quality fabrics, or reduce packaging. For example, Katharine Hamnett London is a brand that is transparent about its production and produces timeless clothing items. It also commits to good labour standards and complies with REACH standards for dyeing and water treatment (Gwilt, Alison, 2020).

Previously, in the linear economic model, companies discarded used clothing as waste. However, a new approach called the circular economy is a sustainable cycle for the economy. This method repurposes old garments and fabrics to the economy after use to minimise waste. Some brands have started implementing circular economy practices, namely the Ellen MacArthur Foundation in 2017 (Gwilt, Alison, 2020). The report A New Textiles Economy: Redesign Fashion’s Future mentioned how the foundation brings fashion industry leaders like H&M, Nike, and Lenzing to promote recycling, reuse, and reproduction. It hopes to reduce the waste from manufacturing, transportation, and clothing disposition.

In addition, a set of global goals known as the 17 Sustainable Development Goals from the UN aim to enhance the quality of lives of individuals. One that relates the most to the Planet is number 12 – responsible consumption and production. It desires to reduce waste generation, improve resource efficiency, and promote sustainable practices.

Due to globalisation and fast fashion, the fashion industry generates excessive waste that impacts the environment. The industry must adapt the change towards more sustainable practices such as the circular economy and apply SDG into practices so that future generations can enjoy the resources we have.

Reference:

Gwilt, Alison (2020). A Practical Guide to Sustainable Fashion, Bloomsbury Publishing USA. Chapter 1- Rethinking Fashion Design (P.4,6,10,18)

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