Purpose
The fourth pillar of Fashion Business schools is ‘purpose’. Strategy is the direction and scope of an organisation over the long term; a journey with a purpose (Johnson et al, 2011). ’Where, why and how we choose to buy our clothes has become a reflection of who we are’ (Corner, 2014) meaning that a brands purpose must reflect the values of its consumers in order to appeal to and attract them.
Gen Z in particular expects the brands they love to stand for something (Fromm, 2019) meaning brands must focus on purpose in order to be successful. ASOS is an example of a brand who responded to this and launched ‘fashion with integrity’ in order to drive the company to positively benefit people and minimise its impact on the planet. Global warming and fast fashion has become a cause of concern for Gen Z consumers who are wanting to shop more sustainably and support brands who share this purpose. ASOS has released its four goals that it aims to reach by 2030; to be net zero, be more circular through the extended life of garments, to be more transparent, and to be more diverse. These purpose align with the values of their target market making them attract consumers through their promise and
delivery- as seen through regular updates. Another purpose that attracts Gen Z is charity, which ASOS has also contributed to through the funding of centrepoint helpline in order to help young people at risk of homelessness, and launching a ‘#StopAsianHate’ support hub during the crisis in April 2021. Not only does this purpose attract the consumers through the shared value of charity but they’ve also chosen to support charities which directly impact and support Gen Z- their target consumers. This is successful in gaining the support and trust of Gen Z consumers.
Brand Philosophy creates a brand image reflecting the values the brand take pride in. This is derived from passion and is reliant on the brands success. Brands philosophy’s are often the same; divulging on helping people, so what stands out to consumers is what brands are against. This creates a more powerful brand philosophy that allows the passion for these ethics, beliefs and values to stand out instead of appearing performative and untrustworthy to consumers. A brands sales, and relationship with consumers relies solely on the brand being deemed trustworthy by consumers and therefore this will be affected by how the brands philosophy is perceived and if it is genuine or not.
Reference list
- Corner, F. (2014) Why Fashion Matters. Thames & Hudson, Limited. Available at: https://ebookcentral.proquest.com/lib/ual/detail.action?docID=5878041# (accessed: 02/11/2022)
- Asos (2022). Available at: https://asos-12954-s3.s3.eu-west-2.amazonaws.com/files/9316/4974/2308/Fashion_With_Integrity_-_Progress_Update_-_120422.pdf (accessed: 02/11/2022)
- Fromm, J. (2019) Gen- Z And The Three Elements Of Purpose Brands. Available at: https://www.forbes.com/sites/jefffromm/2019/07/26/gen-z-and-the-three-elements-of-purpose-brands/?sh=3ab2372e37e3 (accessed on: 02/11/2022)
- Silva, P. (2020) Why Philosophy Has Much To Do With Brand- Building (And What That Looks Like). 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=1766c1fa71f9 (accessed on: 02/11/2022)
- Figure 1: Circular. (2021) ASOS announces ambitious new 2030 ESG goals. Available at: https://www.circularonline.co.uk/news/asos-announces-ambitious-new-2030-esg-goals/ (accessed on: 02/11/2022)
- Figure 2: Mosi, A. Business Philosophy Examples. Available at: https://www.hatchwise.com/resources/business-philosophy-examples (accessed on: 02/11/2022)