Scarlett Milroy

About Scarlett Milroy

Posts by Scarlett Milroy:

,

PROFIT

⋅

Despite the current state of global economic uncertainty, the fashion industry remains to have a net worth revenue of $1.7 trillion (Statista 2023). Within the industry, Profit is necessary driver for creativity and innovation. A brand needs to remain individual and continue to experiment with their creativity to be successful in the current “struggles of the cost of living felt by consumers worldwide” (Statista 2023).

Social media can be a key attribute to ensure a brand is successful. Creative directors should be encouraged to use this platform to bridge the gap between creativity and commerce. Studies have shown “the pull of dopamine is so strong that studies have shown that tweeting is harder for people to resist than cigarettes and alcohol”. The role of influencers is incredibly profitable to a brand as “two ads alone are a good fraction of a million dollars: more than a quarter million and less than half a million” (the Sartorialist). Social media can often be used successfully within the high street market, but luxury brands have instead seemed to focus on experimenting with creative art forms.

The wealthy consumers are less likely to be affected by the cost-of-living crisis and threats of a recession. Consequently, the luxury market will sustain its growth, as high-end consumers aren’t limiting their spending. Luxury brand Louis Vuitton has sustained a “brand value of $44.5 million dollars” (Statista 2023). This figure may not only be a result of the high-end clientele, but their ability to explore experimental ideas through means of creative direction. For example, “managing creativity can be profitable. Robert Duffy funded and grew the Marc Jacobs label in partnership with global brand Louis Vuitton” in the late 1990s. Jacobs and Duffy worked together for 29 years, highlighting the importance of a dual leadership between the designer and business entrepreneur to create a profitable business (Overdiek, Anja).


It can be argued that transparency within the industry will attribute to a greater profit yield. Sustainability is still at the forefront of consumers mind, despite the negative power of social media, where it can be a “powerful tool to fuel consumption and the fast fashion movement” ( Hethorn, J., & Ulasewicz, C). Despite this, Everlane is a key example of a brand supplying transparency within costs and pricing. They “provide an infographic for each item, breaking down the costs of materials, labour, shipping and Everlane’s markup”. This can be seen as profitable as it allows consumers to create a greater emotional connection with a brand, as they are exposed to the authenticity of the process behind both the brand and products.

Liked Liked
No Comments

PEOPLE

⋅

Gen- Z describes the generation born between “1996 and 2010 with identity shaped by the digital age, climate anxiety and the shifting financial landscape” (McKinsey 2018). ¼ of the population (gen-z) have spent their youth on the internet, averaging at 6 hours a day online. This has ultimately resulted in people having conscious online presence, a passionate approach to both sustainability and racial justice, whilst also accepting cultural differences. (Francis and Hoeffel, McKinsey). Although fast fashion and micro trends are an indiscretion of gen-z, around “70% purchase from what they consider ethical” (McKinsey 2018). Targeting generation- z should be the focus for all brands to prolong a successful business. Consequently, businesses must “look beyond tangible products and actually try to understand what makes a company tick” (Bo Fineman). Fashion businesses shouldn’t be focusing on the act of designing but rather the relationships with those within industry and the people pillar.

Founder of the Fashion Revolution, Orsola De Castro appeals to this generation to plead for greater transparency within the industry. The tragedy of the Rana Plaza disaster, Bangladesh exposed “the fashion industry true colours after the collapse of a building in Baca killing over 2500 women” (Castro, O). Since this catastrophe, retailers have become more transparent within their inner business workings. Gen-z proactively have encouraged a more ethical process for high end and high street retailers. For example, a sustainable swap scheme was introduced in 2012 by UK brand M&S who began “Schwopping  ” in collaboration with Oxfam, to reuse and repurpose unwanted items (Gwilt, A end of life). This is an “initiative that urges consumers to bring unwanted clothes to M&S stores when buying something new” to help improve “disposal behaviour”. This initiative was a sustainable success for retailer M&S in “7.8 million garments being recovered, generating 5.5 million for Oxfam” (Bokken, N. Business-led sustainable consumption initiatives). However this is only the beginning, as significant improvement from large corporations is still necessary within sectors of ethical production, consumption, and diversity.

The 1990s was arguably the worst generation for diversity and inclusivity within the industry. As noted by fashion commentator Tony Glenville, Jean Paul Gaultier’s 2010 saw the initial development of inclusivity within the model industry, instead of “underage and underweight blonde women seen on runways in the 90s” (Glenville, T). over the past decade, the industry has vastly improved, with “beauty brand MAC cosmetics demonstrated efforts to promote social inclusion by including plus- size individuals in their ads, who used to be excluded from advertising industries” highlighting an improvement and inclusivity of body image.

Liked Liked
No Comments