Xin Liu

About Xin Liu

Posts by Xin Liu:

Profit

⋅

Profit in the fashion industry is the financial gain made by designing, manufacturing and buying& merchandising fashion products. The size of the fashion industry is huge globally and generates substantial and huge revenues. According to a research by the state of fashion 2019, the market value of the global industry is expected to reach $2.5 trillion by 2025 (Smith, 2019) This figure shows the huge profit potential offered by fashion brands and businesses in the growing part of the global economy.

Secondly the fashion industry is also very competitive. In the era of undefined economy, more and more internet combined Industries and AI smart fashionised industries are born, as DRESSX’s virtual fashion develops the trend of metaverse in the fashion industry and provides the opportunity for virtual digital currencies to be developed in the fashion industry, as well as DRESSX provides a new direction for sustainable development (Candreva, 2022). A successful brand requires to be innovative, and flexible with market insights.

At the same time the creative director of fashion is an extremely significant role between the creative and commercial rationalisation of fashion. They are required not only to create new creative directions in line with the market with which the commercial company is working, but also to meet the needs of the consumer market to achieve brand effectiveness and consumer satisfaction. They are then involved in the design process to explore and define the direction of profit generation. As the fashion brand Laurence&Chico already has lifestyle-brand ambitions(Dara, 2018). Laurence&Chico has been on fire out of the ring at New York Fashion Week and even in people’s daily lives with its classic denim blue prints with its own brand identity, at least for that year. The combination of revenue and promotional value was extremely successful. (Vogue, ) However, the brand’s use of logos in its clothing has been controversial as the clothing is not, as they say, a collaboration with a luxury brand, but rather a copy of a major brand’s logo, such as the prints in the Dior collection. But the brand doesn’t need to be criticised for this as they have come up their own co-branded and unique style line, the classic denim blue print that belongs exclusively to Laurence & Chico. The brand is differentiated from luxury brands and it is undeniable that even the price of the brand does not require the high cost of luxury goods. On the contrary, the brand also illustrates the importance of sustainability. Sometimes sustainability in the fashion industry is not only about being committed to the environment, but also about the longevity of a brand that has evolved alongside the new qualities of the environmental industry.

Laurence & Chico burst onto the scene in 2017-18year, generating significant marketing operations and profits. During the epidemic, despite a drop in market demand from L&C (the brand’s acronym) not actively adopting a sustainable business model and co-branded differentiation, Laurence & Chico has continued to evolve the brand in the aftermath of the epidemic by launching a “Protect the Planet” sustainable fashion programme from 1 November 2022 and will contribute/dedicate 5% of the proceeds from the campaign to protect traditional artisans. And the Demi-Couture programme, which rescues unwanted clothes that you don’t even want to wear, and the ‘Rebirth’ of Old Clothes’ programme were launched. They recycle customers’ old L&C clothes, carry out secondary creation, give new life to the old garments, and affix exclusive eco-labels to sell them on line, with the benefits returned to the original customers in proportion; at the same time, L&C has also set up a special ‘Transformation Workshop’, which provides brand members with exclusive transformation services for their old clothes.

Laurence & Chico hopes to be able to truly start from the brand’s philosophy and fully exercise the brand’s social responsibility, so that the brand is not just a business but a luminary that can provide some warmth to the society. (ELLE, 2022)

In conclusion, while the fashion industry is profitable, it also needs to innovate and adapt to market changes, and at the same time, focusing on sustainable development and social responsibility is an important way for enterprises to use to maintain stability and enhance. Creating a favourable environment for sustainable development and the common development of fashion is the biggest profit.

Reference list:

To change the reference list in Havard style in the portfolio

Liked Liked
No Comments

People

⋅

People.

The People pillar is one of the fashion business research with sustainable development that should be represented with one generation group in this blog.

In this pillar, the Generation Z (GenZ) is the most representative and large group that is following the mainstream of social development. ‘Generation Z comprises people born between 1996 and 2010. ’ (McKinsey & Company, 2023) This generation’s identity has been shaped by the digital age, climate anxiety, a shifting financial landscape, and COVID-19. (McKinsey & Company, 2023). In this situation, they are often adept at using AI to also switch easily between online and offline life.(

As a consumer, GenZ exploration of social media among Gen Z has promoted the development of influence the brand diversity in fashion. In this way, fashion and luxury brand Chanel is one that has increased its brand appeal and sales by partnering with social media users and Gen Z favourite celebrities, posting branded content on Tiktok and Insgram that appeals to the GenZ mainstream(Vogue, 2020). Chanel is known to represent the luxury industry, and it is a brand that has diversified from a female audience to one that caters to all generations. It has introduced more products for different races, genders and body shapes. (Bof, 2017)

As the brand seeks to match the GenZ demographic, Virginie Viard joins a long list of designers who have taken on this important shopper demographic with Chanel’s Spring/Summer 2021 collection, on a runway themed Carrières de Lumières. (Fashionista, 2021)

Browsing TikTok for clothing retailers frequented by GenZ, such as Abercrombie & Fitch or American Eagle, reveals that Gen Z is obsessed with Vintage and the products of Vintage’s styling, but where Chanel’s collaboration with Viard falls short is that her designs seem to be designed to cater to them, the rather than subtly styling good design in a more natural way. It didn’t stop the brand’s image from changing and the ready-to-wear selling out witnessed being attracted to GenZ though. (Tyler, 2021)

Luxury brands as an important part of the fashion industry need to join events that attract the attention of the GenZ community, the cooperation of organisations dedicated to sustainability and environmental protection will attract the attention of the GenZ community and encourage more people to participate in environmental protection actions, such as Chanel’s cooperation with the Waterkeeper Alliance dedicated to the protection of water resources around the world. (Arati, 2018) To be successful, fashion brands need to have a sustainable appeal and a social media strategy that responds to the growing trend of diversity, which can win over Genz and even generation of Alphas and Betas after GenZ.

Liked Liked
1 Comment

  1. khaled: nice

8E4C1C99-9B5C-4156-87F5-47F7B050DA02

Planet

⋅

Planet.

Sustainable Development has the widely important theme, which is synonymous with environmental protection, health, energy and materials, and even the ecological macro-environment circle in general, and is closely related to the survival and development of human beings. The 4 pillars should be reflected by sustainability development in the Fashion Business School at London College of Fashion in the UAL: Planet, People, Profit and Purpose. 

The Planet is the first pillar that should be introduced with the Sustainable Development Goals （SDG’S)  in this blog. Although the UN Sustainable Development Goals are including 17 goals, the fashion industry is closely related with GOAL5.Gender Equality，9.Industry, innovation and infrastructure，10.Reduced Inequality，11.Sustainable Cities and Communities，12.Responsible Consumption and Production，13.Climate Action（unsdgs，2023). Then the research shows that ‘The fashion industry is one of the most wasteful on the planet, and much of this is down to overproduction. Clothing production doubled between 2000 and 2014, McKinsey & Company reported, and numbers have risen further since. The consultancy also estimates that 40% of all items produced by the sector are sold at a markdown, and tackling overproduction could reduce carbon emissions by 158 million tonnes a year.’ （Drapers,2022）

Moreover, the goal 12. Responsible Consumption and Production are connected with a circular economy, which buyers  can make more strategic purchases that benefit consumers and the fashion market with fewer resources. The sustainability of fashion business development that follows the goal12 is more resource efficient, and responsible consumption and production means eliminating the link between economic growth and environmental degradation promoting sustainable lifestyles and a transition to a green, low-carbon economy.

Therefore, the circular economy truly happened in the Planet pillar which includes Reduce, Reuse and Recycle, in many companies to follow the role of sustainability in the fashion industry. Sports area brands like Adidas enforce the reuse&recycling formula of the degradable ocean plastic with eco-friendly sneakers to end too much more pollution in water and follow the circular economy system. In this case, the relationship between sustainability and fashion is mutually reinforcing. At the same time, brands must balance the value of recycled fashion items and reasonable consumer purchases with the quality of a circular economy that meets buyer expectations. On the other hand, since 1993 a brand called Freitag has been committed to the concept of environmental protection and recycling, which is in line with the SDGS philosophy. Surprisingly, Freitag has made use of car cover fabric to create uniqueness, making their brand of backpacks not only waterproof but also catering to the specific needs of consumers. They also have a safe environmental concept, as they know that discarded fabrics and recycled products can have bacteria, so they will sterilise them several times before producing new products for recycling.（FREITAG，2022）

In the fashion buying and merchandising, as a fashion buyer, the support for a green economy in the market is based on the guarantee of the quality of recycled goods and the consumer’s desire to balance the purchase of normal goods aesthetically. In the Planet Pillar, the fashion department needs to set up the circular economy to market brands. Thus, achieving sustainable fashion development solves the problem of the second source of pollution faced by the industry first. (True Cost, 2015)

Liked Liked
No Comments