Anjali Kamran

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Profit

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In the realm of sustainability, the “Purpose Pillar” stands as a foundation. This pillar embodies the importance of the brand’s values as well as establishing a clear and profound sense of purpose within the brand’s operations. Brand philosophy serves as the foundational framework underpinning the success of any brand. It operates as the articulation of the company’s raison d’être, elucidating the purpose behind its existence. A well-defined brand philosophy transcends simple profit-driven motives that is publicised among both internal stakeholders and consumers. Mission statements elucidate why a brand exists, its vision outlines what it aspires to achieve, and the value proposition communicates what it uniquely offers to its audience. Collectively, these elements create a narrative that resonates with consumers, offering them a deeper connection beyond the product or service. A well-crafted brand philosophy isn’t just about business; it’s about fostering a meaningful connection with the audience.

Gen Z, characterized by its social consciousness and digital status, is highly attuned to refresh the concept of corporate responsibility. In a podcast from McKinsey, Finneman (2020) states, “They’re looking beyond tangible products and actually trying to understand what is it that makes the company tick. What’s its mission? What’s its purpose?” This is where Gen Z and millennials differ. While millennials are more focused on what they buy bringing them status, Gen Z looks for pieces that will set them apart. They scrutinize a brand’s philosophy, valuing those that align with their own values. Looking at Stella McCartney’s work ethic, three fundamental principles prevail: responsibility, integrity, and forward-thinking decision-making. This entails adopting practices that not only ensure the longevity of the business but also prioritise the well-being of the environment and its inhabitants. (Londrigan and Jenkins, 2018).

For Gen Z, transparency is not a preference, but a principle that influences their decisions. They demand corporations to take explicit positions on social and political issues. They utilize their purchasing power and social media presence to influence corporate conduct (Curry, 2020). Likewise, authenticity is non-negotiable; Gen Z has a keen eye for detecting insincerity. Brands need to ensure that their mission, vision, and value proposition are not superficial catchphrases but genuinely embodied in their practices, encompassing sustainability efforts and social initiatives. Engagement is paramount in reaching and connecting with Gen Z, especially on platforms like TikTok, Instagram, and YouTube. Brands that successfully convey their purpose to Gen Z are more likely to foster lasting connections and resonate with this socially conscious and tech-savvy generation.

Reference List:

Curry, L. (2020). How Brands Can Follow Through on the Values They’re Selling. [online] Harvard Business Review. Available at: https://hbr.org/2020/08/how-brands-can-follow-through-on-the-values-theyre-selling.

Finneman, B., Spagnuolo, E. and Rahilly, L. (2020). Meet Generation Z: Shaping the Future of Shopping | McKinsey. [online] McKinsey Insights. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping.

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

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Profit

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In an industry as diverse as fashion, the Profit pillar plays a crucial role. This pillar underlines the importance of profitability and financial sustainability within the overarching framework of sustainable business practices. In the fashion industry, profitability is not only a fundamental element but also a critical driver of innovation and change. Balancing profitability with sustainability is an ongoing challenge for fashion brands aiming to thrive in a rapidly changing landscape. The fashion industry, a sprawling and dynamic sector, is a substantial contributor to the global economy. According to the Statista report, ‘Revenue of the apparel market worldwide from 2014 to 2027,’ the industry generated $1.74 trillion in annual revenue and is expected to continuously increase by 11.49% reaching $1.94 trillion in 2027 (Statista, 2023).

Fast fashion, a segment known for rapid production and low-cost clothing, faces growing scrutiny due to its environmental and social impacts. Through social media, we are constantly shown images of emerging fashion trends, up-to-the-minute snapshots of style choices in various locations, and more precise and personalised advertising than ever witnessed in the past. “Right now, the growth of the fast fashion movement, aided by social media, is outpacing the growth of the sustainable fashion movement (Hethorn and Ulasewicz, 2015).” This scenario raises pressing concerns about environmental sustainability and ethical labour practices within the fashion industry. In contrast, the luxury sector continues to enjoy robust growth, driven by exclusivity, technique, and heritage. Limited availability, meticulous craftmanship, and rich brand history contribute to its enduring growth, while adaptive strategies broaden its appeal.

Remaining competitive in uncertain economic times demands a strategic and complex approach. Brands must prioritize agility, innovation, and adaptability. Embracing sustainability can be a source of competitive advantage, as environmentally conscious consumers increasingly influence market trends. Leveraging technology, data analytics, and e-commerce capabilities is pivotal for reaching and engaging with consumers in an evolving retail landscape.

Creative directors occupy a unique position within fashion brands, tasked with harmonizing creativity and commerce. Their role involves translating artistic visions into marketable products, ensuring that the brand remains profitable while retaining its creative integrity (Mitterfellner, 2023). To bridge this gap, creative directors must understand consumer preferences and market trends, utilizing data and consumer insights to inform their designs. This versatile role emphasizes the importance of creative directors as not only artistic visionaries but also astute business strategists, playing a pivotal role in a fashion brand’s overall success and competitiveness in the industry.

References:

Hethorn, J. and Ulasewicz, C. (2015). Sustainable fashion : what’s next? : a conversation about issues, practices and possibilities. New York: Bloomsbury, Fairchild Books, An Imprint Of Bloomsbury Publishing Inc.

Mitterfellner, O. (2023). Luxury Fashion Brand Management and Sustainability. Mastering Fashion Management.

Statista. (2023). Revenue of the apparel market worldwide from 2014 to 2027 (in trillion U.S. dollars). [online] Available at: https://www-statista-com.arts.idm.oclc.org/forecasts/821415/value-of-the-global-apparel-market.

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People

People

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The “People Pillar” is one of the four essential elements of sustainability. In the context of the fashion industry, this pillar emphasises the fair treatment of workers, diversity and inclusion, and the ethical treatment of consumers. It firmly underscores the imperative of valuing individuals as equally essential as profit and environmental responsibility, acknowledging the intrinsic connection between corporate social responsibility and the well-being of both the workforce and the clientele.

Gen Z, born between the mid-1990s and the early 2010s, is a generation characterized by its strong social consciousness, technological adeptness, and an unwavering expectation of purpose, accountability, and steadfast sustainability commitments from the brands they support. This generation, consisting of a highly diverse and inclusive demographic, exhibits a predisposition to support brands that ardently align with their values. For Gen Z, sustainability, ethical practices, and social responsibility are paramount. Furthermore, their preferences are significantly shaped by the digital realm, making them highly responsive to digital media and peer reviews (McKinsey, 2023).

As Gen Z increasingly emphasizes the importance of ethically made clothing, many fashion brands are revaluating their sales strategies. They are shifting their focus towards corporate social responsibility, in which companies are held responsible for their effects on society and the environment, extending beyond their financial achievements (Londrigan and Jenkins, 2018). Gen Z consumers prioritize brands that offer full transparency about their products. To excel in this area, fashion brands depend on essential people skills like communication, collaboration, and adaptability. These competencies empower brands to flourish in the ever-changing and fiercely competitive fashion landscape.

Fenty by Rihanna, particularly through its cosmetics line, Fenty Beauty, stands as a pioneering example in responding to diversity. In the article titled “How Fenty Beauty Altered the Beauty Industry Landscape,” featured in Vogue, Fumni Fetto eloquently asserts, “Fenty Beauty connected emotionally with women who had long been treated as though they didn’t exist by the beauty industry” (Fetto, 2020). Fenty Beauty embodies a comprehensive commitment to diversity. The brand provides an extensive array of foundation and concealer shades, champions diversity in its marketing campaigns, and celebrates a rich spectrum of cultures through its product nomenclature. With a global reach, it ensures accessibility to a diverse clientele. This comprehensive approach to diversity, encompassing product offerings, marketing campaigns, and social initiatives, underscores the brand’s profound commitment to inclusivity and its fervent pursuit of fostering positive social change within the beauty industry and beyond.

Reference List:

Fetto, F. (2020). How Fenty Beauty Changed The State Of Play In The Industry. [online] British Vogue. Available at: https://www.vogue.co.uk/beauty/article/rihanna-fenty-beauty-diversity.

Londrigan, M.P. and Jenkins, J.M. (2018). Fashion Supply Chain Management. New York: Fairchild Books, An Imprint Of Bloomsbury Publishing Inc.

McKinsey (2023). What is Gen Z? | McKinsey. [online] www.mckinsey.com. Available at: https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-gen-z.

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Planet

Planet

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Sustainability has a longstanding presence in the fashion industry, dating back to the 1960s when countercultural movements challenged mainstream fashion. However, well before the current era of abundant consumer goods, the efficient utilization of resources was a fundamental aspect of everyday life (Hethorn and Ulasewicz, 2015). By the late 19th century, technological advancements revolutionized production processes, and department stores made fashionable clothing accessible to people of all social classes, albeit with environmental and labour-related concerns often hidden from the public eye. Nevertheless, in recent decades, there has been an increased awareness of environmental concerns in textile and apparel production, leading to some positive changes in the industry.

The United Nations has laid out a comprehensive framework for a sustainable future through its 17 Sustainable Development Goals (SDGs). These goals collectively form a blueprint for achieving peace and prosperity for both humanity and the planet, encompassing both the present and future generations (United Nations, 2023). Specifically, SDG 12: Responsible Consumption & Production calls for a mindful approach to consumption patterns. It encourages individuals and communities to minimize waste and reduce negative environmental and social impacts, emphasizing efficient resource utilization and sustainable daily choices. A noteworthy example of such commitment to sustainability is luxury designer Stella McCartney, which strives to create alluring products with minimal environmental impact. McCartney’s approach prioritizes cutting-edge, eco-friendly materials, cruelty-free practices, and adherence to circularity principles (McCartney, 2023).

Circularity in the fashion industry represents a sustainable paradigm shift, aiming to minimize waste and maximise the value of clothing and textiles. This approach seeks to establish a closed-loop system where clothing and materials are reused, refurbished, or recycled rather than being discarded. The Brundtland Report which introduced the concept of sustainability, defines it as “meeting the needs of the present generation without compromising the ability of future generations to meet their needs” (Gro Harlem Brundtland, Australia. Commission For The Future and World Commission On Environment And Development, 1990). The report also outlines three foundational sustainability pillars that are pivotal to a responsible and ethical industry. These pillars include environmental sustainability, focusing on reducing the ecological footprint; social sustainability, emphasising fair labour practices and workers’ well-being; and economic sustainability, promoting profitability while considering long-term impacts. In essence, these sustainability pillars are the cornerstones of a circular fashion approach, fostering a more responsible and equitable industry. This approach prioritises resource efficiency and aims to deliver enduring social and environmental benefits in line with the overarching goals of the UN’s SDGs.

References:

Gro Harlem Brundtland, Australia. Commission For The Future and World Commission On Environment And Development (1990). Our Common Future. Melbourne: Oxford University Press.

Hethorn, J. and Ulasewicz, C. (2015). Sustainable fashion : what’s next? : a conversation about issues, practices and possibilities. New York: Bloomsbury, Fairchild Books, An Imprint Of Bloomsbury Publishing Inc.

McCartney, S. (2023). Sustainability. [online] www.stellamccartney.com. Available at: https://www.stellamccartney.com/gb/en/sustainability/sustainability.html.

United Nations (2023). The 17 Sustainable Development Goals. [online] United Nations. Available at: https://sdgs.un.org/goals.

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My Favourite Brand

My Favourite Brand

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Rahul Mishra, the first Indian designer to showcase at the Paris Haute Couture Week champions slow fashion with traditional Indian crafts. With two flagship stores in India and a thriving national and international distribution channel finds its genesis in the ideas of sustainability that present fashion as a tool to create participation and empower the local craft community of India. The company engages 700 to 900 artisans in embroidery centres in six or seven villages across the country, the key village is Baudhpur in West Bengal.

This brands’ dedication to the employees and workers are commendable. His aesthetic is often heavy on the embroidery, but his approach is not only for the look. Mishra’s long-term goals, is to employ one million people some day. He feels that he is responsible for the employment of all these people. Nothing can compare to the intricacy of the hand crafted garments that are created by these artisans from the many villages.

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