Clara Johnson

About Clara Johnson

Posts by Clara Johnson:

⋅

Underpinned and driven by profitability, the fashion industry must appropriately balance the two elements of artistry and marketability to ensure profits and maintain relevancy. An understanding of the prioritisation of a long-term profitability strategy and its relationship with sustainability as an alternative to solely just revenue, is fundamental to success. Profitability encompasses innovating the efficiency of operations and resources whilst being conscious of and responsive to the external business environment – global economy and consumer shifts, consequently, it positions a business securely in times of economic uncertainty. 

Operating within such an extremely dynamic climate, the fashion industry is an economic powerhouse amid an expected value of 1.7 trillion US dollars in 2023. Furthermore, the size of the industry is geographically dependent, with the US and China obtaining the uppermost industry demand (Smith, 2023). 

However, being and industry being so susceptible and vulnerable has its disadvantages. The markets current opposition against a landscape of a threatening recession, hyperinflation and geopolitical tensions will be reflected by a change in consumer confidence, behaviour and a weakening of most demands (McKinsey, 2022). Consumerism will decline, thus so will industry value. 

The division of the industry into defined segments is vital to ensure accurate measures of performance and enhanced management. Their ability to individually perform well can additionally be economically contingent as evidenced within the luxury sector, unaffected by the increasingly challenging climate, “outperforming the rest of the industry” as their consumers “remain more insulated from the effects of hyperinflation” (McKinsey, 2022). 

Defending brand positioning during economic uncertainty is only viable when the brand is willing to adopt strategies to maintain competitiveness or refine their own. Progressing towards innovative, high perceived value products and securing a niche in relation to consumer needs is an example of this. Acclimatising to consumer needs is imperative when discretionary income is limited. Furthermore, studies show brands investing in marketing during economic downturns “gain market share over time”, preventing “smaller or weaker competitors to steal market share” (Clausen, 2020). Consequently, typically the foremost budget cut, must be used to a brands advantage. 

A responsibility that shadows the entire perception of a brand is a creative director’s active fulfilment of bridging creativity and commerce through fulfilling and establishing an “artistic vision” (Mitterfellner, 2023), modernising it be relative to and to satisfy all stakeholders. If reflective, consumers will buy into and celebrate the vision, creativity and communication of a creative director, thus generating revenue.

Smith, P. (2023) Topic: Apparel market worldwide, Statista. Available at: https://www.statista.com/topics/5091/apparel-market-worldwide/#topicOverview 

McKinsey (2022) The state of fashion 2023: Holding onto growth as global clouds gather, McKinsey & Company. Available at: https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion 

Clausen, E. (2020) Council post: Marketing rules to follow during Uncertain Economic Times, Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2020/04/03/marketing-rules-to-follow-during-uncertain-economic-times/?sh=3abfbc414a36

Mitterfellner, O 2023, Luxury Fashion Brand Management : Unifying Fashion with Sustainability, Taylor & Francis Group, Milton. Available from: ProQuest Ebook Central. 

Liked Liked
No Comments

⋅

Regarding the ongoing strive towards a sustainable fashion eco-system, organically, people are inherent to its progression. As an industry that is underpinned by people – operationally and as the driving force, it is fundamental that there must be equal consideration towards the essentiality and significance of people as there is regarding profit and ecological responsibility. Navigating a climate that operates to meet impending and dynamic consumer demand and needs, this pillar underlines the simultaneous need for humanity and integrity through diversity, inclusion and ethical performance.

Born between 1995 and 2010, Generation Z have extensively impacted the prevailing landscape of the fashion industry. Positioned as a metaphorical mouthpiece for sustainability with rhetoric that upholds unprecedented values, “Gen Z collectively demands purpose and accountability, the creation of more opportunities for people of diverse and underrepresented backgrounds, and rigorous sustainable and green practices” (McKinsey, 2023). The targeting of Gen Z is becoming increasingly challenging for businesses as their outlook on consumption differs from the preceding generations as they demand consumption in the form of access, expression of identity and as a matter of ethical concern (Francis & Hoefel, 2018). 

Fig. 1. McKinsey (2018).

The market position of a brand is now reliant upon their ability to fulfil the demands and values of Gen Z consumers – transparency and traceability, purpose, sustainability and a brand narrative are amongst those. Ultimately, Gen Z are chasing “emotional connection” as they look “beyond tangible products” and attempt to understand “what is it that makes the company tick” (Finneman, 2020). Brands must rethink how they innovatively deliver value and are able to connect with their consumers, physically demonstrating the parallel of Gen Z’s rhetoric to attract them. Thus, brand transparency and traceability are imperative. Moreover, there is amplified attention towards the narrative of brands and the concept of authenticity, implemented by shifting from an omnichannel strategy to omnipresent. Gen Z are discerning, only buying into brands that they find pride in sporting and being associated to, upholding a sense of eco-indulgence (Finneman, 2020). 

Promising a commitment to transparent authenticity, anti-greenwashing and responsibility (WGSN, 2023), Ganni is becoming increasingly influential and a forerunner in this evolving ecosystem, setting precedents for other brands to ensue. Regarding their DEI efforts, Ganni are “working on making Diversity and Inclusivity ‘business as usual’” throughout the business’ recruitment process, campaigns and work culture (Ganni, 2021) – ensuring representation for all stakeholders. Furthermore, their social consciousness towards size inclusivity is evident, offering RTW products in a range from 32-52 EU (Ganni, 2021).

McKinsey (2023) What is gen Z? – mckinsey & company. Available at: https://www.mckinsey.com/~/media/mckinsey/featured%20insights/mckinsey%20explainers/what%20is%20gen%20z/what-is-gen-z.pdf

Francis, T. and Hoefel, F. (2018) ‘true gen’: Generation Z and its implications for companies, McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies#/

Figure 1. McKinsey (2018) Delivering Through Diversity. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies#/. 

Finneman, B. (2020) Meet Generation Z: Shaping the future of Shopping, McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping

Saunter, L. (2023) Brand Case Study: Ganni, WGSN login. Available at: https://www.wgsn.com/insight/article/64b7eb850317f2eeaa03373e#page1

Ganni (2021) People: Culture goals, GANNI RESPONSIBILITY REPORT 2021. Available at: https://responsibilityreport2021.ganni.com/culture-goals/

Liked Liked
No Comments

⋅

Once abundant, now scarce, the fashion ecosystem is instrumental in the exploitation of the planet’s finite resources. As universally relied on resources diminish, it is fundamental that the future of this resource intensive industry is approached in an opportunistic, responsible manner, that yearns for change and utilises pre-existing garments. With “predicted carbon emissions of approximately 2.7 billion metric tons a year by 2030 if no abatement actions are taken” (Mckinsey, 2020), this becomes demandingly more pertinent.

The adoption of a circular economy puts this into practice. Circularity removes the concept that there is an end to a garment’s lifecycle, but instead “prioritises clothes and textiles being kept at their highest value during use and re-entering the economy after use, never ending up as waste” (Alison Gwilt, 2014). Moreover, CE’s regard to amending prior consumption and production weaknesses as identified in the linear economy model of take-make-waste and instead establishing inputs as renewable, ensures and regulates the decline of environmental degradation.

Ellen MacArthur Foundation. Model for a New Textiles Economy.

Navigating the second most ecologically destructive industry, where fast-fashion, overproduction and consumption is omnipresent, supported by brands, and thus regularised by consumers, is challenging when attempting the imposition of sustainability. A sense of compromise needs to be necessary when delivering present needs, considering the longevity of ecological resources. Operating as a relatively sweeping and umbrella term, sustainability, can frequently lack significance and meaning to many. Ultimately, the sustainability matrix in relation to fashion most notably involves the sustained methods of creation and consumption, reduction of carbon emissions, protection of biodiversity and safe labour conditions. 

Universal attention has been drawn to ecological and social protection through the seventeen Sustainable Development Goals, established by the United Nations in 2015. Regarding the fashion eco-system, the twelfth goal, responsible consumption and production, is of most relevance. With 85% of non-degradable textiles being sent to landfills annually (Igini, 2023), production and design processes must innovatively prioritise the consideration of a products life cycle and renewable inputs to ensure circularity and sustainability. Moreover, Drapers Sustainability Report discusses the issues regarding supply, emphasising the shift to a demand-driven, made to order model and its positive implications on finance, sustainable and labour conditions (Moran, 2022). Adopting a made-to-order system is a method in which this sector can adhere to this SDG, preventing over-production and consumption. Ultimately, this SDG initiates the industries evident need for change regarding their unsustainable practices by 2030. 

The United Nations Sustainable Development Goals, 2015

Bibliography

Mckinsey. (2020). Fashion on Climate Report.

Alison Gwilt. (2014). Page 10. A Practical Guide to Sustainable Fashion.

Martina Igini (2023). 10 Concerning Fast Fashion Waste Statistics.

Graeme Moran. (2022). Collaborating for Change: Sustainability Report 2022.

Liked Liked
No Comments