profit
Pillars
Fashion is a business, so profit is one of the crucial pillars for fashion companies to consider, remaining the normal commercial running and connecting to the company scale.
The size of the fashion industry、
The scale of the fashion industry is remarkable in terms of both economic value and practitioner in the industry worldwide as the fashion industry accounts for 2% of the GDP(Ariella,2022).
With referring to statistics, the size of the global apparel market in 2021 wealth 1.5trillion dollars (Smith,2022）and 430 millions Labor force worldwide in 2021(fashion united,2022).there is a different scales of fashion marketing and production in different regions, United States and China are occupied the majority of garment requirement and both producing ample higher revenues comparing to other countries. 154billion dollars’ worth of apparel were exported from China, with US is second only to the EU in the value of apparel imports.
How a brand remains competitive in uncertain economic times;
In recent years, with the continuous changes in the global economy, consumers’ consumption behaviour and habits have changed accordingly. Brands need to strive to maintain brand competitiveness under such circumstances, optimizing from ‘supply chains and assortments to way of working(Sidebar,2022).in accordance with McKinsey‘Ten theme across three categories will be critical for the fashion business in 2022’, logistics gridlock is definitely an issue making an incredible impact on the supply chain, with logistical logjams, rising shipping costs, and shortages of many kinds of complexity, companies must reconsider their sourcing strategies while implementing cutting-edge supply -chain management, building in greater flexibility to keep products flowing with customer demand in the year ahead (Sidebar,2022).luxury brand should realize the customer shifts in the majority of the offline flagship store and due to travel restrictions in some countries, according to Mckinsey(2022), international tourism is not expected to fully recover until between 2023 -2024. Luxury players should engage more deeply with domestic consumers and invest in clienteling for local e-commerce channels. Statistics from many fashion information websites show that in 2021-2022, consumers are increasingly concerned about the social responsibility of brands, the sustainable technology adopted, and the management of brand recycling programs, so the brand has an accredited sustainable model and advanced recycling and reprocessing technologies will be more competitive .increasing the investment on the technology of circular textiles to let closed-looped recycling system starting to be rolled out at scale is necessary for a brand to developing and consolidating market. Besides, with more and more people raising their sustainable consumption behaviour, the pre-loved and vintage market is thriving， however, along with the concern about the counterfeit problem, so many luxury brands use new technology to launch their chip–product passports, get rid of the authenticate card, confronting the fake product phenomenon in second-hand market.
How do creative directors bridge the gap between creativity and commerce?
Demna Gvasalia is an example, He was the rebellious icon of the fashion industry in recent years, giving Balenciaga’s catwalk show full of theatrical and full of storytelling, the AW2018 Balenciaga show a powerful and poignant new direction for Demna, the set of the show against a giant snow mountain, scrawled with graffiti messages that read ’think big ‘,’ the power of dreams, ’no borders’ and ‘you are the world,’ and the first time he introduces a set to his work. The show combines scenery, model performance, and the brand’s new quarterly ready-to-wear, which is called the designer’s artistic language output. the collection of hoodies, T-shirts, bum bags and baseball hats that appeared in the Balenciaga AW18 collection all emblazoned with the WFP logo with the slogan ‘Changing lives, saving lives（Shackleton,2018). .it was a kind of It is expression of the designer’s own art form due to Demna’s own childhood experience of being helped by the WFP. ’Fashion and art have historically shared a parasitic and independent relationship’ (Stevenson,2019）.In recent years, Demna has filled Balenciaga’s fashion design style with critical, exaggerated, absurd and solemn design language, combined with the show scenery similar to contemporary art, establishing the image of a pioneer artist. The brand Balenciaga serves as a medium for him to express his artistic form. This has contributed to Balenciaga’s success in recent years. as Nancy Troy(2003, P27) claimed that the artistic image which been built by the designer is also kind of a marketing strategy, potentially helping the brand media promotion as a signal of the brand.
Drucker encourages us to view contemporary artworks as vague fields of reference that ‘resonate profoundly through our shared cultural knowledge base.’( Stevenson,2019)
Art nowadays no longer exists independently of mediatized representations of reality。 So it’s normal for the creative designer to express the form of art or merge a kind of concept in their work. However, at the same time, the designer should focus on the promotion of their creativity and storytelling about their new concept to let the customers better accept the design. For example, a brand runway show is a good place to express and describe more representational of the meaning behind the creative by the An allegorical and directional setting. The designer should make sure that whatever they produce, which needs to face marketing, it’s necessary to be accepted by their target customer, they should consider the brand followers ‘ feelings, and the index of expected sales, letting the business keep going.
https://fashionunited.com/global-fashion-industry-statistics
Smith.T(2022) Global apparel market – statistics & facts. Available at:
https://www.statista.com/topics/5091/apparel-market-worldwide/#topicHeader__wrapper
(Accessed atOctober 22th, 2022)
Sidebar(2022)Sate of fashion 2022:A uneven recovery and new frontiers.Availablet at:
https://www.mckinsey.com/industries/retail/our-insights/state-of-fashion(accessed at:October 22th,2022)
Shackleton. H(2018)how Demna Gvasalia is changing the world.Available at:
https://i-d.vice.com/en/article/mb4xyy/how-demna-gvasalia-is-changing-the-world(Accessed at: October 22th,2022)
Stevenson. C(2019)(I was there) when it all went down”, Cronberg, Vestoj press