In the fashion industry, the Purpose pillar, typically following the order of planet, people, and profit, plays a crucial role in strategic planning and communication. It serves as the platform for a company to express its core purpose and values, inspiring and guiding employees, partners, and customers. Beyond profit, it fosters a deep sense of personal contribution to the company’s larger mission.

BRAND PHILOSOPHY

A brand’s philosophy is the foundation of its mission, values, and vision, differentiating it from competitors. It goes beyond marketing, reflecting beliefs that resonate with the audience and embodying a commitment to positive impact. As a brand, your philosophy is rooted in how your business defines itself, shaping its identity and subsequently presenting it to the wider public. This philosophical underpinning forms the essence of the brand and guides its interactions with the world. (Silva, 2020)

GEN Z

In the contemporary landscape of the fashion industry, Generation Z emerges as a primary target for sales. Born in the early 2000s, this cohort, now in their twenties, drives the rapid evolution of trends, primarily facilitated by the immediacy of social networks like TikTok and Instagram. This phenomenon bolsters the fast fashion sector, catering to the ever-changing desires of the masses, leading to substantial profits.

While fashion trends have historically been cyclical, Generation Z’s entrance into the scene heralds a search for sustainability. In contrast to the preceding Millennial generation, Generation Z has ushered in the rise of the second-hand and reuse market, promoting eco-friendly practices. In partnership with Oxfam, Marks & Spencer initiated the ‘Shwopping’ campaign in 2012, urging consumers to donate clothing for reuse. Despite raising awareness, donated items remain less numerous compared to direct reuse within personal networks. (Gwilt, 2020)

This demographic’s shift in consumption patterns extends to how they purchase products, expanding opportunities for emerging brands, increasing distribution, and facilitating more sustainable practices. This, in turn, contributes to the explosive growth of social networks. Digital influencers wield increasing influence, reshaping the global fashion market. Moreover, collaborations with celebrities prove to be a potent strategy, significantly attracting Generation Z and yielding swift sales and substantial benefits for brands.

In this dynamic landscape, for brands to distinguish themselves and remain authentic, forging an emotional connection with consumers becomes paramount. This connection ensures a brand’s lasting positioning and perspective. The transition from being merely omnichannel to the concept of being omnipresent underscores the importance of brands adhering to their story and authenticity. (McKinsey & Company, 2020)

BIBLIOGRAPHY:

EmbedSocial. (2023) Brand collaborations on Instagram: How to find them? Available at: https://embedsocial.com/blog/brand-collaborations-on-instagram/ (Accessed: 30 October 2023).

Gwilt, Alison. (2020) A Practical Guide to Sustainable Fashion, Bloomsbury Publishing USA, 2020. Available at: http://ebookcentral.proquest.com/lib/ual/detail.action?docID=6234061 (Accessed: 27 October 2023)

Hatchwise. (2021) Business philosophy examples. Available at: https://www.hatchwise.com/resources/business-philosophy-examples (Accessed: 30 October 2023). 

McKinsey & Company. (2020) Meet Generation Z: Shaping the future of Shopping. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/meet-generation-z-shaping-the-future-of-shopping (Accessed: 27 October 2023). 

M&S. (no date) What is shwopping? Plan A Shwopping. Available at: https://www.marksandspencer.com/c/plan-a-shwopping (Accessed: 30 October 2023). 

Silva, P. (2020) Why philosophy has much to do with brand-building (and what that looks like), Forbes. Available at: https://www.forbes.com/sites/piasilva/2020/11/19/why-philosophy-has-much-to-do-with-brand-building-and-what-that-looks-like/?sh=3e21039171f9 (Accessed: 28 October 2023). 

The fashion industry is a dynamic and ever-evolving sector that holds significant economic importance worldwide. Achieving profitability in this highly competitive sector necessitates a nuanced approach that encompasses both creativity and sound business strategies. It is essential for fashion businesses to implement a multifaceted approach that aligns creative vision with strategic decision-making to navigate the challenging terrain of profit generation in the fashion world (Smith, 2020).

The size of the fashion industry is difficult to pinpoint precisely due to its complexity and the various sectors it encompasses. The global fashion industry was valued at $1.5 trillion, with the United States, Europe, and China serving as major hubs (Global Fashion Industry Statistics, 2020). The global fashion industry is valued at $3 trillion, despite this size and the influence of commerce, the natural fluidity of cultural and trend evolution requires a fashion business to manage its creative direction and financial controls assiduously. The nature of this control is at the heart of effective product management from the high street through to the luxury of haute couture (Crook, 2017).

In uncertain economic times, maintaining competitiveness is a formidable challenge for brands. A brand’s ability to adapt and thrive in these conditions depends on several important strategies. While it generally comes down to good management and healthy parenting, there are specific reasons why brands decline. According to Kapferer (2012), those that lead to loss of brand value include forgotten quality, lack of new trends, mono product offering, distribution problems, poor communications, inability to stay with the target market, environmental factors, and, finally, the departure of the creative director. By addressing these issues and integrating smart strategies, a brand can navigate uncertain economic times while remaining competitive in the market.

Creative directors play a pivotal role in bridging the gap between creativity and commerce in the world of fashion, as exemplified by the renowned designer and creative director Virgil Abloh, particularly during his tenure at Louis Vuitton’s Men’s Artistic Director. Abloh’s innovative approach incorporates streetwear elements, appealing to a younger audience. By doing so, he reinvigorated Louis Vuitton, attracting a new generation of consumers while preserving the brand’s prestige. This fusion resulted in substantial revenue growth. Abloh’s love of collaboration and cross-cultural synthesis is now the norm in fashion. Just as he changed the face of fashion, he helped redefine the parameters of what a creative director can do (D. Parisi & J. Manoff & Z. Zwieglinskanow, 2021).

Figure 2: Virgil Abloh in his Off-White fashion show. (Gallagher, 2021)

Bibliography:

Crook, Josh De Souza (2017). Compelling Fashion Business: Bridging The Divide Between Creative Vision And Commercial Reality. Available at:https://www.arts.ac.uk/colleges/london-college-of-fashion/stories/compelling-fashion-business-bridging-the-divide-between-creative-vision-and-commercial-reality [Accessed in 19 Oct 2023]

D. Parisi & J. Manoff & Z. Zwieglinskanow (2021). Virgil Abloh ‘changed the shape of the luxury fashion industry’. Available at: https://www.glossy.co/fashion/virgil-abloh-changed-the-shape-of-the-luxury-fashion-industry/ [Accessed in 18 Oct 2023]

Global Fashion Industry Statistics (2020). Available at: https://fashionunited.com/global-fashion-industry-statistics#:~:text=According%20to%20Euromonitor%20the%20global,the%202019%2D2020%20fiscal%20year. [Accessed in 17 Oct 2023]

Kapferer (2012). The New Strategic Brand Management: Advanced Insights and Strategic Thinking [Accessed in 17 Oct 2023]

Smith, J (2020). Profit Strategies in the Fashion Industry. [Accessed in 19 Oct 2023] 

The profit is the third pillar of sustainability and the marginal monetary benefit received but a firm in return of selling goods and services.  Profit can be described as “money that is earned in trade or business after paying the costs of producing and selling goods and services” (Cambridge Dictionary). Profit is the capital that a company can use for various purposes, such as investing in new products, replacing equipment, nurturing employees, etc. With a good profit base, enterprises can have the premise of continuous development. (Indeed, 2020). 

The size of the fashion industry is comparatively larger than other businesses. It differs from season to season, on weather, trend changes and with uncertain conditions for example, covid-19. Before Covid-19 hit, the fashion industry was worth $1.7 trillion. During the pandemic, the worth of the fashion industry had decreased to $1.45 trillion, that is by -18.1%. (McKinsey, 2022). Post pandemic, consumers indulged in something termed as ‘revenge-shopping’, bringing up the industry’s worth between $1.5 and $1.7 trillion in 2021. (Fashion United). 

For an economy to be successful, institutions must meet the needs and desires of consumers majorly it being disposable income. Each sector in the industry needed to respond to these changes accordingly to remain competitive. During covid19, the marketing sector had the most influence on the consumers for the sales of the clothes being produced. Second most important were the finance sector. As they economy went down during covid19, it was important for the industry to lower their prices to sell off their inventories.  Zara is the world’s largest clothing retailer, being responsible for churning out roughly 840 million garments every year in 6,000 stores worldwide. (Chua, 2019).  having an unique selling point in fashion industry can increase the rate of any firm being comparative competitive and successful. Gucci is one of the best-known Italian brands popular for their luxurious clothes and leather products. The brand is exclusively preferred by the Gen Y people for their edgy unorthodox designs. Gucci’s USP, so to speak, is their unique craftsmanship. Going by the records, the top three Gucci items explored by shoppers online are flip-flops, shoes, and belts. With a brand value of $ 12.7 billion, Gucci is one of the richest brands in the fashion world.

Creative directors in the fashion industry play a crucial role in bridging the gap between creativity and commerce. They are responsible for translating artistic vision into commercially successful products and strategies. Here are several ways in which creative directors achieve this balance: Creative directors mayneed to have a deep understanding of current market trends, consumer behaviour, and competitors. This knowledge helps them create designs and campaigns that resonate with the target audience. Additionally, Creative directors should work to establish and maintain a strong brand identity. This involves defining the core values, aesthetic, and messaging of the brand and ensuring that these elements are consistently reflected in all creative endeavours.

https://fashinza.com/brands-and-retail/tips/top-10-luxury-fashion-brands-and-their-usps/#

People is one of the main pillars of the fashion industry, which brings together the consumer with the brands business strategies to help market their products and attract new consumers who are also known as generation Z or commonly referred to as ‘Gen Z’. They’re called “digital natives”—the first generation to grow up with the internet as a part of daily life (McKinsey, 2023).

GEN Z

Members of Generation Z, commonly born between the mid-1990s and mid-2010s, have emerged as a distinctive cohort of consumers characterized by unique preferences and behaviors. As digital natives, they have grown up in a world saturated with technology and social media, making them exceptionally tech-savvy and interconnected (Twenge, 2017). Luxury brands needs to invest in unique marketing tactics to capture the young audience attention. Co-branding is a trend that brands have attempted with collaborations such as, Gucci and Adidas surpassing the usual limits by creating unique logos and prints for the co-branded collections (Mitterfellner, 2023). Furthermore, in total, 87.7% of Gen Z and millennial consumers use apps to buy fashion at least occasionally, up from 85.5% last year. While it is interesting to note the different patterns of usage between the two cohorts, both Gen Z and millennial shoppers are clearly keen on the speed, ease and engagement factor of apps (Moran, 2022). Therefore, sales are growing into online transactions as brands have introduced an virtual environment that consumers find easy to navigate, enhancing the exclusivity of its distribution network and attracting Gen Z consumers.

DIVERSITY

The “Dream Crazier” Nike’s campaign, featuring tennis star Serena Williams, highlighted the achievements of female athletes and encouraged women to break down barriers in sports. Furthermore, the company has made efforts to address diversity in its workforce by setting targets to increase the representation of women and underrepresented minorities in leadership positions. These actions not only align with Nike’s core values but also respond to the growing demand for more inclusive and representative branding in the marketplace (Nike, 2021). 

There are four pillars of sustainability, Planet, People, Profit and Purpose. People are defined as a diverse group of consumers with, different ages, race, gender, religion etc, who have a direct relationship with brands. Different brands aim to market their product to these consumers. The current and the most known consumers of the fashion industry are “gen z”.

Gen z includes those born between the mid-1990s to the early 2010s. they are described as unique but realistic and well educated in terms of self, social, economic and political awareness. Generation Z has been called the most critical consumer group until now and has a different view of consuming than previous generations. They are the latest to enter the workforce and have a strong purchasing power. With a bigger demand for higher-quality items, brands must earn their place in Generation Z’s wallets. Gen Z consumers are more likely to buy sustainable, high-quality, products. 73% of Generation Z consumers are willing to pay 10% more for sustainable products, according to a report from first insight. 

Gen z isn’t the easiest to please in terms of purchasing products. To influence them, brands need to be unique and go out of the box. 45% of gen zers say that a brand “appearing trustworthy and transparent” is a big motivating factor for engagement. By making social media accounts of brands not only about selling but also create content that’s explicit about what your values are and share as much of your brand’s story as you can. Collaborating with influencers is a very effective way to market to Gen Z. It’s all part of that brand authenticity: Gen Z wants to buy from brands they trust, and they hear about brands they trust from people they trust.

One of the major examples of diversity is shown by Nike the sportswear brand: Someday We Won’t Need This Day” It has long excelled in diverse advertising, showcased by the Nike Pro Hijab for Muslim female athletes, adaptive activewear for people with disabilities, and plus-size athletic wear. It supports International Women’s Day and envisions a future where the day is unnecessary due to full acceptance and equality.

There are people skill needed for a fashion brand to be successful. Communication skills are needed internally between team members to operate efficiently. If there isn’t good communication between the team, there cannot be a good working flow. At the same time, communication skills are also essential externally to speak to the right audience. And build relationships with press, editors, or other fashion professionals outside the company. These are critical skills, especially for those who want to work in PR, marketing and social media, where the main job is to communicate and convey the brand’s message through a social post or marketing campaign.

https://voyado.com/resources/blog/generation-z-online-shopping-habits/

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Have you ever wondered how much the fashion industry impacts our environment? The industry is often criticized for its excessive waste, unethical labor practices, and relentless pursuit of profit at the expense of our planet. In this blog post, we will be addressing these concerns and delving into the realm of the backstage of this far from glamorous world.

In a world driven by trends and ever-changing styles, the fashion industry has long been associated with glamour, creativity, and innovation. Each step in the fashion supply chain contributes to environmental degradation, however, there is a growing awareness among both consumers and industry insiders about the urgent need for change. A few fashion companies such as Inditex, Lacoste, Primark, PVH Corp, and Tommy Hilfiger have participated in the Make Fashion Circular initiative, collaborating with NGOs to promote a circular economy. This is a term that refers to markets that give incentives to reusing products, rather than scrapping them and then extracting new resources, ensuring recyclability (both technical and nutrient). 

Circular Economy

The circular economy should not be seen as a substitute for sustainability, but rather as a complement to other ongoing efforts. Sustainability in fashion is more than just a buzzword. It encompasses various aspects, such as eco-friendly materials, ethical labor practices, and conscious consumer choices. For example, the Ellen MacArthur Foundation was developed in conjunction with industry partners such as H&M, Lenzing, and Nike, which prioritizes clothes and textiles being kept at their highest value during use and re-entering the economy after use, never ending up as waste (Gwilt, 2014). This highlights the efforts of brands, designers, and activists who are starting to drive positive change and setting the stage for a greener, more equitable future in fashion.

SDG’s

Most importantly, the Sustainable Development Goals, known as SDGs, are 17 objectives set for a better vision of the future and are crucial because they underpin our global response to some of the biggest global problems, from poverty and hunger to environmental conservation and gender equality. Namely, SDG 5 “Gender Equality”, consists of destroying stereotypes, promoting fair wages and providing equal opportunities for all genders. For instance, the Miu Miu FW22 fashion show brought to the runways a genderless collection that features clothing items that can be worn by people of any gender identity such as men using crop tops and mini skirts. This Miu Miu expansion into genderless appealed to an increasingly broad Gen Z target audience (Salamone, 2022).

Bibliography

Gwilt, Alison. (2014) A Practical Guide To Sustainable Fashion. Available at: https://pt.scribd.com/document/672813816/A-practical-guide-to-sustainable-fashion-by-Alison-Gwilt [Accessed in 5 Oct. 2023]

Salamone, Lorenzo. (2022) The new genderless of Miu Miu. Available at: https://www.nssmag.com/en/fashion/29205/menswear-miu-miu [Accessed in 7 Oct. 2023]

THE PLANET 

The four pillars of sustainability are Planet, People, Purpose and Profit. Currently, Planet takes an extremely important role in the sustainability of the fashion industry. 

The industry has undergone a remarkable expansion in the last two decades, especially with the consolidation of the fast fashion approach, which is the business model of replicating high fashion designs, standardized fashion items mass producing them at low cost and selling it quickly in retail stores (Fletcher, 2010). Due to this, the level of greenhouse gasses emissions has increased immensely.  The fashion industry therefore hold accountability for 10% of global carbon emissions (Conca, 2015) and 20% of global wastewater emissions (Cho, 2021). 

THE CIRCULAR ECONOMY 

 A circular economy supports activities that preserve value in the form of energy, labour, and materials. What it means is that the fashion industry will design for durability, reuse, remanufacturing, and recycling to keep products, components, and materials circulating in the economy. The circular economy has a few principles which will furthermore benefit the environment: the elimination of pollution, waste and a new clearer environment.(Ellen MacArthur Foundation, 2023). 

FASHION SUSTAINIBILTY 

An online survey was administered with a huge sample of 402 Italian consumers. The most important result was an incorrect evaluation of sustainability resulting in a different consumers’ attitude towards circular economy. It showed that most of the respondents were willing to buy bio-based, sustainable clothing as well as other bio-based products. However, in the second-hand market, the participants were reluctant to purchase used clothes, even though they expressed no concern about buying other used items. The Sustainable Development Goals are formed by the UN to achieve a better and more sustainable future for all. One of the goals is to responsibly produce and consume which is about ensuring sustainability patterns which is key to sustain livelihoods of current and future generations. Shifting our energy supplies to more sustainable ones are one of the main changes we must make if we are going to reduce our consumption levels.

Fast fashion clothing has recently dropped in prices due to the lower cost materials used. This means the quality of materials used may damage the environment in various ways. 

Fast fashion also has a human cost: textile workers, primally women in developing countries, are often paid derisory wages and forced to work long hours in harsh conditions (UNEP,2018; WRI,2019). Use of chemicals in clothes production also raise serious health concerns, both for the workers and consumers. Additional impacts on health also arise from the pollution mentioned previously. 

To fix this there are few things can be done; Governments need to implement policies and regulations that include measures such as setting targets for reducing waste generation, promoting circular economy practices, and supporting sustainable procurement policies. 

Individuals can adopt more sustainable lifestyles as well. This can involve consuming less, choosing products with lower environmental impacts, and reducing the carbon footprint of day-to-day activities.

Bibliography:

https://www.sciencedirect.com/science/article/abs/pii/S0007681317301015

https://ellenmacarthurfoundation.org/the-circular-economy-in-detail-deep-dive#:~:text=A%20circular%20economy%20favours%20activities,materials%20circulating%20in%20the%20economy.

https://www.sciencedirect.com/science/article/abs/pii/S0959652621039500

https://www.genevaenvironmentnetwork.org/resources/updates/sustainable-fashion/https://www.un.org/sustainabledevelopment/sustainable-consumption-production/

https://www.un.org/sustainabledevelopment/sustainable-consumption-production/

Similarly to virtually any area of enterprise found in today’s economy, the financial stability and success of businesses within the fashion industry can be measured via assessing their profitability. Due to rapidly moving trend cycles and an evident instability of, practically, any brand’s image, “profit” is singled out of the four crucial components of the Fashion Business School as the only one controlled almost entirely through marketing. 

The Fashion Industry has been recognized as one of the biggest within the global economy for many years and continues to grow at an exponentially quick rate, currently ranked as the fourth largest sector in the world. Composed of a 3,384.1 million labour force and valued at 3 trillion US dollars, the industry is believed to correspond to a total of 2% of the universal Gross Domestic Product (Vìlaça, 2022). Despite the 18.1% decline in the value of the industry at the start of the Covid-19 pandemic, these statistics are expected to maintain growth, particularly due to the rapid expansion of the e-commerce fashion market (McKinsey, 2022) . A vast majority of sectors within the industry, ranging from the most reputable haute couture establishments to lower end fast fashion chains, are now generating considerably more profit online rather than in stores (The Business Research Company, 2022). 

Fig. 1 (Zeppia, 2022)

The aforementioned Covid-19 pandemic heavily impacted how fashion operates by encouraging brands to come up with new marketing strategies to help them remain afloat and in high demand during unpredictable economic times. Gen-Z’s substantial influence over social media in combination with their preference of ethical production has urged brands to re-evaluate their environmental impact and sustainability efforts (Hope, 2022). According to Forbes, 62% of Gen Z prefer to shop sustainably and 54% “are willing to spend an incremental 10% or more on sustainable products” (Petro, 2022). The presence of such high desire for ethically produced goods has prompted a rise in the online resale sector of the fashion industry, including sites like Vestiaire Collective and The RealReal, in turn, stimulating competition with non second hand brands and sites. For instance, luxury online retailer Net-a-Porter has created a consignment service in collaboration with Reflaunt, thus taking a step towards sustainability by allowing buyers to resell preloved items (Net-A-Porter, 2022). Ultimately, brands are expected to implement visible changes to their policies regarding ethical production and consumption in order to retain their status. 

Although well thought out marketing is crucial for commercial prosperity, it can often minimise the unique essence of a brand in addition to reducing the value of its artistic identity. Renowned creative directors tend to bridge the gap between commerce and creativity by establishing a unique image of their label that makes it not only exclusive, but also catering to their “demographic’s sense of culture and credibility” (Ahmed, 2013). An excellent example of this is designer Vivienne Westwood. Since establishing her label in 1971, Westwood “has always used her collections and catwalk shows as a platform to campaign for positive activism” (British Fashion Council). Westwood’s public activism for climate change, politics, and sustainability is, no doubt, partially a reason for the brand’s rapid resurgence in popularity amongst Gen Z consumers in recent years. 

References:

Ahmed, Ajaz. “Bridging the Gap between Art and Business .” The Guardian, Guardian News and Media, 16 Oct. 2013, www.theguardian.com/media-network/media-network-blog/2013/oct/16/bridging-gap-art-business

“Apparel Market Size 2022 and Growth Analysis.” The Business Research Company, Oct. 2022, www.thebusinessresearchcompany.com/report/apparel-global-market-report 

Blachdiani, Anita, et al. “State of Fashion Technology Report 2022.” Edited by Imran Amed, McKinsey & Company, McKinsey & Company, 4 May 2022, www.mckinsey.com/industries/retail/our-insights/state-of-fashion-technology-report-2022

“Global Fashion Industry Statistics.” FashionUnited, Fashion United, July 2022, fashionunited.com/global-fashion-industry-statistics 

Hope, Blaise. “How Gen Z Shapes Sustainable Luxury Fashion through Digital.” Sustainability Magazine, 28 May 2022, sustainabilitymag.com/sustainability/how-gen-z-shapes-sustainable-luxury-fashion-through-digital

“How to Sell Pieces From Your Closet With Our Luxury Resale Service.” PORTER: Incredible Women. Incredible Fashion. Every Day., NET-A-PORTER, 15 Nov. 2022, www.net-a-porter.com/en-gb/porter/article-ea4e0fb969278531/fashion/fashion-memo/net-a-porter-reflaunt-resell-service

Petro, Greg. “Sustainable Retail: How Gen Z Is Leading the Pack.” Forbes, Forbes Magazine, 12 Oct. 2022, www.forbes.com/sites/gregpetro/2020/01/31/sustainable-retail-how-gen-z-is-leading-the-pack/?sh=74eb212c2ca3

Vilaça, Jùlia. “Fashion Industry Statistics: The 4th Biggest Sector Is More than Clothing.” Fashinnovation, 18 Feb. 2022, fashinnovation.nyc/fashion-industry-statistics

“Vivienne Westwood: Fashion and Activism.” Google Arts & Culture, British Fashion Council, artsandculture.google.com/story/vivienne-westwood-fashion-and-activism-british-fashion-council/EAWB0Y4apC2qIg?hl=en

Zippia. “28 Dazzling Fashion Industry Statistics [2022]: How Much Is The Fashion Industry Worth” Zippia.com. Oct. 3, 2022, https://www.zippia.com/advice/fashion-industry-statistics/

Similarly to virtually any area of enterprise found in today’s economy, the financial stability and success of businesses within the fashion industry can be measured via assessing their profitability. Due to rapidly moving trend cycles and an evident instability of, practically, any brand’s image, “profit” is singled out of the four crucial components of the Fashion Business School as the only one controlled almost entirely through marketing. 

The Fashion Industry has been recognized as one of the biggest within the global economy for many years and continues to grow at an exponentially quick rate, currently ranked as the fourth largest sector in the world. Composed of a 3,384.1 million labour force and valued at 3 trillion US dollars, the industry is believed to correspond to a total of 2% of the universal Gross Domestic Product (Vìlaça, 2022). Despite the 18.1% decline in the value of the industry at the start of the Covid-19 pandemic, these statistics are expected to maintain growth, particularly due to the rapid expansion of the e-commerce fashion market (McKinsey, 2022) . A vast majority of sectors within the industry, ranging from the most reputable haute couture establishments to lower end fast fashion chains, are now generating considerably more profit online rather than in stores (The Business Research Company, 2022). 

Fig. 1 (Zeppia, 2022)

The aforementioned Covid-19 pandemic heavily impacted how fashion operates by encouraging brands to come up with new marketing strategies to help them remain afloat and in high demand during unpredictable economic times. Gen-Z’s substantial influence over social media in combination with their preference of ethical production has urged brands to re-evaluate their environmental impact and sustainability efforts (Hope, 2022). According to Forbes, 62% of Gen Z prefer to shop sustainably and 54% “are willing to spend an incremental 10% or more on sustainable products” (Petro, 2022). The presence of such high desire for ethically produced goods has prompted a rise in the online resale sector of the fashion industry, including sites like Vestiaire Collective and The RealReal, in turn, stimulating competition with non second hand brands and sites. For instance, luxury online retailer Net-a-Porter has created a consignment service in collaboration with Reflaunt, thus taking a step towards sustainability by allowing buyers to resell preloved items (Net-A-Porter, 2022). Ultimately, brands are expected to implement visible changes to their policies regarding ethical production and consumption in order to retain their status. 

Although well thought out marketing is crucial for commercial prosperity, it can often minimise the unique essence of a brand in addition to reducing the value of its artistic identity. Renowned creative directors tend to bridge the gap between commerce and creativity by establishing a unique image of their label that makes it not only exclusive, but also catering to their “demographic’s sense of culture and credibility” (Ahmed, 2013). An excellent example of this is designer Vivienne Westwood. Since establishing her label in 1971, Westwood “has always used her collections and catwalk shows as a platform to campaign for positive activism” (British Fashion Council). Westwood’s public activism for climate change, politics, and sustainability is, no doubt, partially a reason for the brand’s rapid resurgence in popularity amongst Gen Z consumers in recent years. 

References:

Ahmed, Ajaz. “Bridging the Gap between Art and Business .” The Guardian, Guardian News and Media, 16 Oct. 2013, www.theguardian.com/media-network/media-network-blog/2013/oct/16/bridging-gap-art-business

“Apparel Market Size 2022 and Growth Analysis.” The Business Research Company, Oct. 2022, www.thebusinessresearchcompany.com/report/apparel-global-market-report 

Blachdiani, Anita, et al. “State of Fashion Technology Report 2022.” Edited by Imran Amed, McKinsey & Company, McKinsey & Company, 4 May 2022, www.mckinsey.com/industries/retail/our-insights/state-of-fashion-technology-report-2022

“Global Fashion Industry Statistics.” FashionUnited, Fashion United, July 2022, fashionunited.com/global-fashion-industry-statistics 

Hope, Blaise. “How Gen Z Shapes Sustainable Luxury Fashion through Digital.” Sustainability Magazine, 28 May 2022, sustainabilitymag.com/sustainability/how-gen-z-shapes-sustainable-luxury-fashion-through-digital

“How to Sell Pieces From Your Closet With Our Luxury Resale Service.” PORTER: Incredible Women. Incredible Fashion. Every Day., NET-A-PORTER, 15 Nov. 2022, www.net-a-porter.com/en-gb/porter/article-ea4e0fb969278531/fashion/fashion-memo/net-a-porter-reflaunt-resell-service

Petro, Greg. “Sustainable Retail: How Gen Z Is Leading the Pack.” Forbes, Forbes Magazine, 12 Oct. 2022, www.forbes.com/sites/gregpetro/2020/01/31/sustainable-retail-how-gen-z-is-leading-the-pack/?sh=74eb212c2ca3

Vilaça, Jùlia. “Fashion Industry Statistics: The 4th Biggest Sector Is More than Clothing.” Fashinnovation, 18 Feb. 2022, fashinnovation.nyc/fashion-industry-statistics

“Vivienne Westwood: Fashion and Activism.” Google Arts & Culture, British Fashion Council, artsandculture.google.com/story/vivienne-westwood-fashion-and-activism-british-fashion-council/EAWB0Y4apC2qIg?hl=en

Zippia. “28 Dazzling Fashion Industry Statistics [2022]: How Much Is The Fashion Industry Worth” Zippia.com. Oct. 3, 2022, https://www.zippia.com/advice/fashion-industry-statistics/

Purpose 

Purpose is known as the ‘aim’ of a business or organisation. It is one of 4 of the main pillars of the fashion industry. Purpose is the reason why people start their business, what they aim to achieve and how they are going to succeed within the industry, that is why to me, purpose is one of the main/ most important pillars. 

The pillar of purpose explores a brands ‘mission, vision and value’. The brands mission and vision can be shown from a brands given ‘mission statement’. For example, here is the mission statement of Zara: “give customers what they want, and get it to them faster than anyone else.” Along side the vision statement: “to contribute to the sustainable development of society and that of the environment with which we interact.” This shows the purpose and the aim of the brand and what they hope to achieve and aim to present within their brand in order to be sustainable and successful. It clearly states and explains to the customer, and also those just interested in what the brand of Zara wants to achieve in the business aspect in order to become a profitable and successful brand. Here is a diagram of the mission, vision and values of Zara: 

Brands communicate their purpose to Gen-Z by ‘Of those who are happy for brands to communicate their purpose-driven work with them, most told us social media and a brand’s website are the platforms through which they want to hear it.’ This shows the impact I. Which social media has on our lives, brands and the success of brands in todays day and age. Social media marketing would be a good way to present the brands purpose as that is shown through research to be a main way in which a brand will attract Gen-Z customers.  Also, video content such as tiktok videos and instagram reels is a way that brands can successfully reach and communicate to Gen-Z.

King, J. (2022) How brands can win the trust of gen Z – attest blog, Attest. Available at: https://www.askattest.com/blog/attest-investigates/how-brands-can-win-the-trust-of-gen-z (Accessed: November 14, 2022). 

Roth, R. (2018) Council post: Give customers what they need (not what they want), Forbes. Forbes Magazine. Available at: https://www.forbes.com/sites/forbescoachescouncil/2018/05/03/give-customers-what-they-need-not-what-they-want/ (Accessed: November 14, 2022). 

Zara Mission and Vision Statement Analysis (no date) Edrawsoft. Available at: https://www.edrawmind.com/article/zara-mission-and-vision-statement-analysis.html (Accessed: November 14, 2022).