Tabitha Bennett

Potentially Profit is the chore value of a business, the fashion industry revolves around popularity, production and profit allowing businesses to progress and expand. A company is measured on their profit and margins, therefore being the drive of a fashion brand’s success.The fashion industry is rapidly growing everyday whether it is through fast fashion, luxury fashion, sustainable fashion or mass production. The current amount of the fashion industry stands at an astronomical 1.53 trillion US dollars and is assumed to grow 9.45% (statista,2023). When thinking about fashion one must contemplate the journey of fabric to a garment to a profitable source of income. In 2020 businesses saw a huge decline in profit, cosing businesses rather heavily and resulting in businesses admitting defeat and going into administration. The industry saw financial challenges that would make or break businesses, although many brands saw devastation, some saw annihilation, the biggest fashion companies including Louis Vuitton,Dior,Givenchy (all under the LVMH group) were valued at 194 billion US dollars. (Forbes’ The World’s top garment Companies 2020 (Coyne, 2020). 

The industry of fashion is one that has always been and remains a competitive industry. Brands must have a USP to appear as appealing and unique in an industry full of similarity. Brands must adapt to certain trends to stay relevant and sustain engagement. Throughout the pandemic brands saw a shift in attitude, habits and popularity. If brands didn’t adapt to new trends of more comfortable and casual clothing they would see a real decline in sales,profit and popularity. Brands had to focus on what was accessible to the consumer, focusing on different avenues of promotion such as social media and the art of influencing.In 2019 the garment market 271.88 billion US dollars, this saw a large increase and by 2021 it had grown to 300.37billion US dollars proving that Covid came with both positives and negatives for the apparel market.

Creative directors are crucial when merging creativity and business, allowing for a creative vision for the brand and a business strategy in order to improve sales and create maximum profit. Creative directors need to look at a brand from all perspectives, the consumer and the stakeholder. Bridging together what the consumer wants and what the business needs. A great creative director understands the preferences of consumers, competition to get to the top,and to enhance a brand’s creativity allowing it to flourish.

Bibliography 

Coyne, M. (2020) “The World’s Largest Apparel Companies 2020: LVMH On Top While Nike Gains Foothold,” Forbes, 13 May. Available at: https://www.forbes.com/sites/marleycoyne/2020/05/13/the-worlds-largest-apparel-companies-2020-lmvh-on-top-while-nike-gains-foothold/?sh=4408e8f30ed3 (Accessed: October 22, 2023). 

The Journey to a sustainable future would not be possible without the pillar of influential people. Fashion as an industry is progressing into a socially responsible mindset. As the industry is determined by ‘people’ People as the consumer and the producer play a vital role in the stride to success in sustainability, making decisions on the quality of their clothes and choosing to consider the production of their garments. When thinking about the pillar ‘people’ one must reflect on multiple different aspects. All people who collectively work to produce garments should work in a safe environment, have fair welfare and be treated ethically. (Londrigan and Jenkins,2018,pp48) as well as including all types of people. The people of the fashion industry should consider how their garments are made, ‘ why are people so bothered about the fruit they eat but people aren’t bothered about fashion made in fear. People should focus on ‘buying less and buying better’ (De Castro, 2023.) 

Another aspect that should be considered in the fashion industry is the positioning of people through marketing.. Marketing messages are aimed to make the consumer feel a certain way when wearing a certain brand.   (De Castro, 2023.)  

The Generation Z are accustomed to the idea of technology and digital advancement, as access to the internet has been normalized from such a young age. This has resulted in a deeper intrigue in their purchases through their ability to research a brand and what they stand for. If something already exists when a person is born it is normalized to them, if something is invented when a person is 15-35 they welcome the idea. However once a person is over 35 generally they close their minds to inventions. Therefore brands have to consider how to project a message that appeals to all demographics or focuses strictly on a target demographic and the consumer has a rather small window of optimism.. (reference) 

A brand that displays an important message and appeals to not only Gen Z but Gen X is Fenty by Rihanna, illustrating diversity through the use of normalized models rather than an unachievable idea of ‘perfect’ in society. Allowing the consumer to feel a sense of relatability and sending an important message of inclusivity through a large range of sizes and shade choices. Displaying the IDG of growth, steering far from normality and connecting with the consumer on an deeper level. 

Bibliography 

Londrigan, M.P. and Jenkins, J.M. (2018). Fashion supply chain management. New York: Fairchild Books, An Imprint Of Bloomsbury Publishing Inc, pp.41–60.

(Orsola De Castro, 2023, Upcyclist, fashion designer and author. 

(Reference from AI generation Z talk) 2023