Sienna Vost-Worthy

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Profit

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Profit is undeniably the most vital of the four pillars within the fashion industry, whilst there is emphasis on creativity and artistic expression, commerce and financial gain are the key elements in ensuring a brands survival within such a competitive environment. Profit determines the economic success of a fashion brand and can act as a driving force of motivation for them to remain competitive within such a saturated industry. The fashion industry holds enormous economic power due to them being one of the largest economies in the world, ‘if it were ranked alongside individual countries GDP in the global fashion industry would represent the seventh largest economy in the world’ (McKinsey and Company,2016). Consequently, it is essential for brands to establish innovative, differentiated content in order to stand out within the current climate of the contemporary fashion world.

As of 2022, the global apparel market was calculated to have generated $1.5 trillion in revenue, forecasted to increase to more than $1.7 trillion by 2023 (Statista,2023). One prominent sector within the industry, due to the influential rise of gen z consumers, is the second-hand apparel market, forecasted to grow due to the high demands for more sustainable and environmentally conscious options. Due to the current unpredictable state of the economy amid the geopolitical concerns and hyperinflation, consumers behaviours are changing and brands must adapt to their new demands. Consequently, this has led to a significant decrease in consumer spending, pushing shoppers to choose lower end expense options such as Vinted and H&M. However, the luxury fashion sector remains the highest performing sector as consumers are investing in high quality, sustainable pieces. The luxury sector is forecasted to grow between 5 and 10 percent in 2023, outperforming the rest of the industry (McKinsey and Company, 2022), as customers are less affected by the economic uncertainties therefore, spending habits will remain more consistent. 

Due to such uncertainties within our economic climate, it is crucial for brands to remain competitive through innovative and progressive marketing strategies that aim to target a new group of consumers. To demonstrate this, ‘brands must question their traditional marketing strategies and define a marketing mix for their new audience’ (Kapferer, 2012). For example, if a brands target audience is gen z the use of social media marketing campaigns are essential in capturing their attention. For brands to ensure they are remaining competitive, they must demonstrate creative and innovative strategies which can be seen through the combining of art and commerce. One prominent example of how creative directors have bridged the gap between creativity and commerce is Karl Lagerfeld’s work at Chanel and Fendi. After 50 years as creative director, to commemorate Lagerfeld the Karlito fur toy was released, creating a wide trend of furry bag accessories which are still popular today. During his esteemed time at Chanel, Lagerfeld was openly shown as the face of the brand and is renowned for the most impressive installations, including the re creation of a supermarket at his autumn/winter 2014 show (Mitterfellner, 2023).

Fig 1. Chanel Autumn/Winter 2014 Ready-to-Wear Show (Guardian, 2014)

Bibliography:

McKinsey and Company (2017). The State of Fashion. [online]

Available at:

https://www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our%20Insights/The%20state%20of%20fashion/The-state-of-fashion-2017-McK-BoF-report.pdf [accessed: 21/10/2023]

McKinsey and Company (2022). The State of Fashion 2023:Holding onto growth as global clouds gather. [online]

Available at:

https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion [accessed: 21/10/2023]

Mitterfellner, O (2020) Fashion marketing and communication: Theory and practice across the fashion industry. [online]

Available at:

https://ebookcentral.proquest.com/lib/ual/reader.action?docID=5981798 [accessed: 21/10/2023]

Mitterfellner, O (2023) Luxury fashion brand management: unifying fashion with sustainability. [online]

Available at:

https://ebookcentral.proquest.com/lib/ual/reader.action?docID=7260416 [accessed: 21/10/2023]

Statista (2023). Global apparel market- statistics and facts. [online]

Available at:

https://www.statista.com/topics/5091/apparel-market-worldwide/#topicOverview [accessed: 21/10/2023]

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People

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Within such a diverse industry, it is crucial for fashion brands to recognise one of the most pinacol aspects of the four fundamental pillars of sustainability, people. For any brand people, specifically consumers, are the vital key for them to able to function and survive. Every consumer has different needs and can be split into various sectors for example gender, age, sexuality and race, understanding consumer needs is necessary in order for a brand to successfully market their products and attract their target audience. For a fashion brand to effectively market their garments towards their intended audience they must adhere to the demands of each generation and their differing needs. One group of consumers in particular, that are pivotal within the fashion industry today due to their strong, influential values and demands for brands to illustrate diverse and sustainable practices, is Gen Z. 

Gen Z is the name given to the group of people born between 1996 to 2010 during the rise of the internet and the digital age labelling them ‘’digital natives’’. The behaviours of these consumers are shaped by how they grew up through the digital age, climate anxiety and the global pandemic. Gen Z is a community that collectively hold strong views on diversity to create greater equality for all, sustainability and ethical practises. Therefore, they will often choose brands that not only demonstrate these values but influence a real change within the industry. McKinsey & Company reported 73% of Gen Z claimed to strongly take into consideration environmental, ethical and social issues when purchasing from companies therefore, it is essential for brands to adapt to these demands in order to align with their consumers needs and successfully market their products. Businesses must practice what they preach when addressing marketing issues as this generation stand by searching for truth and value individual expression (T. Francis and F.Hoefel,2018). In order to appeal to Gen Z, it is essential for brands to adapt to their values and change their practices to become in line with not only sustainability and circularity, but also represent diversity through inclusion of cultures, body types and ages. Many brands have attempted to progress with the new generation and adopt their values, this is evident within Rhianna’s Fenty beauty line which effortlessly represents all ethnicities and identities within their diverse beauty line that covers an array of skin tones.

Fenty Beauty inclusive advertising campaign

Fenty beauty is renowned for their great diversity efforts that have massively impacted not only the beauty industry, but the fashion industry also through the inclusive line of lingerie ‘’Savage X Fenty’’ fit for all body types. Rhianna set forth a new standard to be met through her remarkably diverse runway which covered various ethnicities, disabilities, sexualities and ages, including the first ever congenital amputee model to walk the New York Fashion week runway without a prosthetic (Forbes, Cat-Wells, 2021). 

Consequently, this emphasises how in order for a brand to be successful within this industry, they must adhere to the progressive principles of the new generation Z. To demonstrate these values, sustainable and circular approaches must be used within their practises to prove their efforts in tackling the climate crisis and help building a sustainable future. Brands must demonstrate a recognition for diversity and representation of all identities and ethnicities through not only a marketing strategy but integrated within the core values of the brand.

References:

-Francis, T and Hoefel, F (2018). ‘True Gen’: Generation Z and it’s implications for companies [online]

Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

-McKinsey & Company (2023). What is Gen Z? [online]

Available at: https://www.mckinsey.com/~/media/mckinsey/featured%20insights/mckinsey%20explainers/what%20is%20gen%20z/what-is-gen-z.pdf

-Wells, C (2021) ‘Shaholly Ayers on Savage X Fenty: A more inclusive fashion and advertising landscape’ [online]

Available at:  https://www.forbes.com/sites/keelycatwells/2021/10/16/shaholly-ayers-on-savage-x-fenty-a-more-inclusive-fashion-and-advertising-landscape/?sh=6d49671d43ff

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Planet

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Planet is arguably one of the most important and significant of the 4 pillars of sustainability due to the vastly negative impact the fashion industry is having on the world today, with it being one of the major contributors towards the climate crisis. In 2015 the global fashion industry were responsible for emitting 1715 tonnes of C02 which is forecasted to grow by 63% in 2030 (pulse of fashion). The detrimental damages to our planet are at the cause of the harmful production practices taking place within the linear economy where natural resources are extracted to produce products that are consumed, then thrown away and wasted. Over 100 billion garments are produced a year with 85% of textiles sent to landfills that release CO2 emissions into the atmosphere. Significant changes must be met by not only the brands but consumers also, as societies over consumption habits have seen an enormous growth due to mass produced fashion, in particular ‘’fast fashion’’ that focuses on bringing runway trends to the high street in the quickest possible time (Alison Gwilt, 2020).

The fashion industry must urgently make a change to their conventionally, unsustainable supply chain that reflects a linear process, which focuses on profitability rather than the products life cycle. The fashion industry must reshape their structure by adopting the principles of the circular economy, which emphasises the use of recycling and re-using products. These processes aim to tackle global issues such as global warming, pollution and waste. By changing the way we produce and consume it combats these global issues and helps toward moving into a sustainable future. Sustainability is defined as ‘’meeting the needs of the present without compromising the ability of future generations to meet their own needs’’ (Brundtland, 1987). In 2015 the United Nations adopted a set of 17 sustainable development goals as an urgent call to fight global issues such as poverty and global warming.

Sustainable Development Goals

As sustainability is a widely important ideal to the fashion industry it is important that they recognise these SDG’s and apply them to their processes. One SDG that must be recognised by the fashion industry, as it correlates to one of the most prominent issues within fashion, ‘fast fashion’ which is currently the cause of increased pollution and poor working conditions. The 12th SDG ‘responsible consumption and production’ must be taken into consideration by the fashion industry as it aims to ensure sustainable consumption habits and production processes. To adhere to the 12th SDG, the fashion industry will have to adapt their systems to a circular structure within their supply chains to ensure sustainable practices such as, using fabrics not contaminated with harmful chemicals and micro plastic fibres that could pollute our water systems.

A tragedy of fashion, Patrick McDowell

Many fashion brands are consciously striving to move toward circular processes for example, Patrick McDowell where sustainability is at the very core of the brands practice. McDowell adhered to the circular system through his use of reclaimed fabrics and ethically produced materials within his garments that strive to reinvent luxury fashion through a sustainable lens. 

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my favourite fashion brand

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My favourite fashion brand:  Saint Laurent

When asked the simple question “what is my favourite fashion brand?”  I suddenly became overwhelmed with the vast amount of brands that I both love and admire for equally different aspects with Bottega Veneta, Celine, Givenchy and Loewe all being brands that have inspired me. Due to the ever changing and dynamic nature of the fashion industry, with trends constantly coming in and out, it is difficult to pick only one favourite as it often changes quite frequently. However, one brand in particular struck out to me due to it’s ability to remain current and timeless in such a rapidly changing environment, Saint Laurent.

Saint Laurent, luxury French fashion house founded in 1962 by Yves Saint Laurent, is one of the most influential and prominent fashion brands of the 20th century. Their focus on differentiating itself from other fashion brands through their unique elegent styles that inhabit a distinctive edge has allowed them to remain current within the industry. Saint Laurent exhibits a chic style of silhouette through their collections that remain simple and sophisticated yet also beholds a seductive style that allows them to stand out from other luxury brands. Saint Laurent’s seductive and sexy style of clothing aims to empower those who wear them, particularly women as Yves Saint Laurent focused on pushing the boundaries of women’s fashion by often dressing women in trousers which was very rare for the time. This is why for me, Saint Laurent stood out as my favourite brand as they exhibit an elegant, chic look that will remain current and stand the test of time due to their timeless and high-quality classic pieces that customers can invest in and wear throughout the seasons. The French brand revolutionised women’s fashion due to their ability to empower women through their pieces that allowed women to feel elegant and sexy at the same time, this being shown through one of their most iconic and revolutionary designs the tuxedo suit for women. Yves Saint Laurent is viewed as one of the most influential and revolutionary fashion designers in history due to his transgressive designs for women’s fashion which pushed the boundaries of gender roles and helped to shape the women’s fashion industry into what it is today.

Kate Moss A/W 23 by Anthony Vaccarello
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  1. Lucy Donnelly: Did you like the catwalk show for SS23? It had mixed reviews for such a eponymous Brand.