Edward Whitbread

In the complex world of the fashion industry, Purpose stands as the ultimate guiding force. Purpose weaves its way through every aspect of this ever-evolving realm, touching on brand identity, responsibility, ethics, psychology, and philosophy. Brand identity is more than a mere logo; it serves as a mirror of a brand’s purpose, encapsulating its fundamental principles and vision. Fashion brands bear a significant responsibility, not just for their financial success but for the well-being of the planet and society as a whole. Purpose delves even deeper, reaching into the consumers perception of a company (McKinsey & Company, 2020). It’s a connection that goes beyond mere aesthetics, delving into the very core of why we choose the clothing we do. 

A brand’s philosophy serves as the guiding compass that shapes its identity and resonates with consumers. It comprises the mission, vision, and value proposition, all of which are pivotal in conveying what a brand represents. The mission statement serves as a brief summary of what the brand aims to achieve right now, grounding it in the present moment. On the other hand, the vision statement paints a picture of the brand’s ambitious dreams and goals for the future (brain & Company). Furthermore, a company’s principles can be expressed via their engagement in Corporate Social Responsibility (CSR), a concept encompassing the notion of organizations acknowledging and addressing their influence on the broader society (Londrigan, 2018). SKIM’S mission statement undermines a way “to consistently innovate on the past and advance our industry for the future” (Skims, 2023), through showcasing their ethos. A brand philosophy is very important as it can define its unique identity and helps to differentiate it from other competitors. This can help drive profit for the brand as consumers can resonate with a brands values and beliefs. This is proven with Skims as Kim Kardashian puts and emphasis on diversity and inclusion, allowing the consumer to relate more to the products being sold. 

In the fashion industry, connecting with Gen Z consumers hinges on purpose, emphasizing authenticity, values, and ethics in their retail choices. Brands aligning with social and environmental causes and embracing social responsibility resonate with Gen Z (Mkinsey&Company,2020). Moreover, social media’s power is vital for engaging this digitally-savvy generation, collaborating with influencers who authentically convey the brand’s philosophy. Influencers are used  as brand ambassadors, sharing the brand’s story and values that resonate with Gen Z. Bringing people with similar interests together helps them feel like they truly belong, encouraging them to share their thoughts and experiences. This, in turn, can attract a broader audience of potential customers. 

Bibliography:

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In the ever-evolving world of fashion, where creativity and individual expression are celebrated, there exists a powerful undercurrent that shapes the industry in profound ways. It is the pursuit of profit. Beyond the allure of runway shows and the artistry of design, fashion is fundamentally a business, and profit is central to its existence. The economic aspect of fashion is not merely an auxiliary concern; rather, it holds a paramount influence over every facet of the industry. Profit, in this context, becomes the lifeblood that sustains the creativity, innovation, and dynamism of the fashion world.

The Size of the Fashion Industry: 

The fashion industry is colossal, both in terms of its global reach and economic impact. The global fashion industry was valued at $2.5 trillion in 2020, making it one of the largest and most influential sectors of the global economy. This vast industry encompasses not only the designing and manufacturing of clothing but also retail, marketing, and a myriad of other interconnected sectors, including luxury, fast fashion, and sustainable fashion. The fashion industry is ranked as the fourth-largest sector, with a staggering influx of 3,000 textile and garment companies joining the market each day (McKinsey &Company, 2022). Moreover, the industry is set to experience consistent annual growth, boasting a substantial 9.45%. Compound Annual Growth Rate from 2023 to 2027, as is estimated to be worth over $3.3 trillion by the year 2030 (Statista, 2023).

Remaining Competitive in Uncertain Economic Times:

In an era marked by economic unpredictability, fashion brands must be agile and innovative to maintain their competitiveness. To do so, they must embrace e-commerce, invest in digital marketing, and offer a seamless online shopping experience. Brands should also prioritize sustainability, as eco-conscious consumers seek ethical and eco-friendly alternatives (Sales fire, 2023). Within the fashion industry, individual sectors exhibit varying degrees of performance. While luxury fashion brands continue to thrive and maintain their exclusivity, fast fashion has grown in popularity by offering affordability and trend-driven products (McKinsey & Company, 2022). Sustainable fashion is also making strides, driven by an increasing consumer awareness of ethical and environmental concerns (MDPI, 2022). However, the industry as a whole faces the challenge of adapting to evolving consumer preferences and digital transformation.

The Role of Creative Directors:

Creative directors play a pivotal role in bridging the gap between creativity and commerce in the fashion industry. These individuals are responsible for setting the creative vision of a brand while ensuring it aligns with market demands. By understanding the evolving tastes of consumers and the economic realities of the industry, creative directors make strategic decisions that not only captivate audiences but also drive sales (Vogue, 2019) . For example, Daniel Roseberrry, the creative director of Schiaparelli has worked along side influencers such as Chiara Ferragni (Schiaparelli, 2023) to maintain the brand’s relevance, simultaneously cultivating its appeal through a combination of surrealistic and primitivist aesthetics. Creative directors must maintain a delicate balance between innovation and profitability.

Art VS Fashion

Over time, brands have often collaborated with artists to bridge the worlds of commerce and culture. These collaborations can serve a dual purpose, encompassing both monetary value and aesthetic objectives. While some partnerships, such as the collaboration between Louis Vuitton and Yayoi Kusama, are intended to generate revenue and enhance brand recognition through limited-edition collections, others focus on the artistic value and creativity that the collaboration can bring, emphasizing the aesthetics and emotional impact of the resulting works. In the case of Louis Vuitton and Yayoi Kusama, the partnership blended both monetary and aesthetic goals, demonstrating that art and business can coexist in a mutually beneficial way, contributing to the brand’s success and the artist’s exposure and recognition.

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The world of fashion is a complex and ever-evolving realm, driven by a dynamic interplay of various essential components. Among these, the pillar of people stands as a crucial and irreplaceable element, underpinning the entire industry. Fashion is not just about clothing, accessories, or trends; it’s a reflection of our culture, values, and individual identities. The people involved in fashion, ranging from designers and artisans to consumers and influencers, contribute to shaping the industry’s fabric. This pillar encompasses the diverse group of individuals who play a vital role at every stage of the fashion cycle, from conception and design to production and consumption (Ninimäki, 2018).

Gen Z

Gen Z, the generation born roughly between 1997 and 2012, is known for their tech-savvy nature, progressive ideals, and a passion for reshaping the world through digital innovation and social change (McKinsey & Company, 2023). Gen Z, often referred to as “digital natives” (Prensky, 2001), this refers to individuals who have grown up with technology and the internet. With their similar characteristics, in that Gen Z are often characterised by their digital fluency, socially conscious mindset, and desire for authenticity, they represent a generation that is reshaping the way we interact, communicate, and address societal issues (McKinsey & Company, 2018).

Gen Z – Relation to fashion 

Skills needed for a fashion brand to be successful?

Success in the fashion industry often depends on a combination of creative and business awareness, along with strong people skills. The ability to collaborate, lead, and relate to others is as important as the ability to create innovative and attractive designers. The most important factor that a fashion brand should focus on is diversity and inclusion (McKinsey & Company, 2021). An example of a brand that has encompassed the necessary people skills needed for a fashion brand to be successful is Good American by Khloe Kardashian. Good Americans brand’s goals are about “female empowerment and building a community of women that feel seen, heard, beautiful, and confident” (Kardashian, 2023). This can be seen being put into practice, with the use of a range of diverse and inclusive models wearing the clothes. This is especially important to project onto a Gen Z audience as it celebrates different body types so that consumers can relate to the product.

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The fashion industry has always had a significant impact on our planet, from the production of textiles to the disposal of old clothing. However, as environmental awareness grows, so does the demand for sustainable fashion. ‘Planet,’ in the context of the UK fashion industry, is more than just a celestial body; it symbolises a commitment to preserving the Earth’s resources and protecting our environment. Sustainability is at the forefront of inauguration in the fashion industry (Jennifer Xiaopei Wu and Li Li, 2019). The global fashion industry is estimated to be worth around $1.7 trillion (Zippa, 2023), and is accountable for 20% of global water waste and 10% of global CO2 emissions. Fast fashion’s disposable culture encourages overconsumption, leading to excessive resource depletion, pollution, and waste. While some capitalize on this unsustainable model, we must recognize the urgent need to shift towards more sustainable, responsible practices in the fashion industry to protect our environment for future generations.

Circular economy within the fashion industry

Currently, the fashion industry follows a linear system, which involves producing and consuming clothes. This has a detrimental impact on the environment as less than 1% of the garments that are discarded are recycled (Katarina Rimarciko, 2023). However, as we look to the future a circular economy within the fashion industry must be implemented. The concept of a circular economy involves a disruption of the traditional linear fashion model, characterized by “take-make-dispose,” and instead advocates for a regenerative system where materials and products are reused, remanufactured, and recycled, minimizing waste and maximizing value. The circular economy within the fashion industry represents a promising shift towards sustainability, responsible consumption, and a more conscientious approach to clothing production and consumption. This introduction explores the key principles and potential benefits of the circular economy in fashion, shedding light on its role in shaping a more sustainable and ethical future for the industry.

Fashion designer Tanguy Mélinand (Hypebeast, 2023) has been exploring different materials such as seaweed and how it can be used in the fashion industry as a step toward a more sustainable planet. Mélinand’s innovative approach to incorporating seaweed into fashion has not only sparked eco-conscious trends but also raised awareness about sustainable alternatives in the industry (Vogue, 2023).

SDG’s

The UN Sustainability Development Goal that relates most to the fashion industry is goal 6. Clean water and sanitation – water scarcity affects more than 40% of the world’s population. One wash load of polyester fabrics can release 700,000 microplastic fibres into the environment, polluting the surroundings that we are meant to look after (Christina Animashaun/ 2019). In Monday’s lecture we learnt that it takes over 2700 litres of water to produce one T-shirt, to put this into context around 2 billion people lack access to safely managed drinking water at home(CDC, 2022). By finding a better solution to combat the consumption of water within the fashion industry, we can not only reduce the environmental impact of clothing production but also contribute to a more sustainable future for our planet.

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