Jiasheng Li

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purpose

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Purpose is the last of four pillar fashion schools. Purpose plays a vital role in the fashion industry. Fashion companies will set up a periodic purpose for themselves so that enterprises can finally reach a big purple. David said (2014, p.15) purposeful brands will do better and matter more. He mentioned that purpose is the result of passion and love and the final purpose is achieved through time, ideas, brand, people and you.

David claims (2014) purpose is a powerful thing, it can provide you with powerful power. The goal of “it tells your story, it builds your teams and defines your culture.” helps a brand build its own team culture. Usually, a brand’s Mission is larger than its Vision, and Mission has a broader and long-term significance. Tesla’s vision is “To create the most competing car company of the 21st century by driving the world’s transition to electric vehicles.” And Mission is “To accelerate the world’s transition to sustainable energy” (LinkedIn. com, 2022) Grill suggestions (2022) Tesla’s vision mentioned that the world has entered an era of giving priority to renewable energy. For Tesla, the focus is to let consumers recognize that electric energy provides power for cars. The mission shows more futuristic business mode changes. Tesla’s mission sets out the agenda for how it is going to achieve the vision This shows how important mission and vision are to an enterprise. They include short-term development goals and long-term goals of the enterprise. The value proposition specifies what makes the company’s products or services attractive, why customers choose them, and how the value of products or services can be distinguished from other products of similar brands (corporatefinanceinstitute.com, 2022) Pereira states (2022) Tesla’s value proposition includes a green solution that adds high performance, design, functionality, efficiency, long-range, flexible, and low-cost (or free) recharging. What Tesla’s value proposition wants to present to consumers is a more environmentally friendly, convenient, efficient and inexpensive lifestyle.

The emergence of sharing economy is due to the new economic model (rentle. io, 2021). Lovick states (2020), which is a point-to-point process and can be anything to provide convenient, simple and more affordable goods and services for the economic system of sharing assets and services between private individuals. Sharing economy is a kind of exchange, in which both parties benefit from each other.

To get closer contact between the brand and Gen-Z, fashion brand needs to know what Gen-Z wants. For Gen-Z, consumption means obtaining products and services, not necessarily occupying (‘True Gen ‘: Generation Z and its implications for companies, p.7) Fashion business improves brand services, and developing the secondary market is a concern for brands because Gen-Z prefers to sell or exchange products again after experiencing the products.

Reference

Francis, T. and Hoefel, F. (2022) ‘true gen’: Generation Z and its implications for companies, McKinsey & Company. McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies (Accessed: October 30, 2022).

Gill, R. (2022) Vision and mission statements, are they still relevant in 2022?, LinkedIn. Available at: https://www.linkedin.com/pulse/vision-mission-statements-still-relevant-2022-russell-gill?trk=articles_directory (Accessed: October 30, 2022).

Hieatt, D. (2018) Do purpose: Why brands with a purpose do better and matter more. San Francisco: Chronicle Books.

L., E(2022) What is the Sharing Economy & How it’s affecting traditional business models, The platform to sell and rent anything, anywhere. Sustainable business blog. Available at: https://www.rentle.io/blog/sustainable-business/what-is-the-sharing-economy?hs_amp=true&utm_medium=cpc&utm_source=google&utm_network=x&utm_term=&utm_mtype=&utm_campaign=18223238561&utm_adgroup=&utm_extension=&utm_ad=&utm_ad_position=&gclid=Cj0KCQjwwfiaBhC7ARIsAGvcPe5e3AGwX2a1FhQfwZKDaBDlbe4HTXITNuFs1xsV6RRMnHqWrmwctX4aApUmEALw_wcB (Accessed: October 30, 2022).

Lovick, S. (2022) What is the sharing economy?, BusinessBecause. BusinessBecause. Available at: https://www.businessbecause.com/news/insights/6736/what-is-the-sharing-economy (Accessed: October 30, 2022).

Value proposition (2022) Corporate Finance Institute. Available at: https://corporatefinanceinstitute.com/resources/knowledge/strategy/value-proposition/ (Accessed: October 30, 2022).

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Profit

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In the fashion industory, profits occupy a crucial position, and profits reflect the state of the social economy. Also, in the fashion industry, profit is one of the four Pillars of fashion in fashion business school. Understanding the impact of profit on the fashion industry and how to improve benefits has always been a topic worth discussing (conceptable. com)


The fashion industry has always played a vital role in the world. In 2022, Radonic said (2022) promised that the business value of the fashion industry will reach 1.7 trillion dollars, which be 103% – 108% of the scale in 2019. The average retail price of fashion will rise by 3%. Fast fashion will recover in 2023, reaching 38.2 billion dollars, and the accessories industry will reach 375.49 billion pounds. The scale of the fashion industry is extensive, and the market value is high. And according to the statistics of the clothing industry, dyeing and textile processing waste 20% of the world’s water (fashiondiscounts.uk, 2022).


The fashion industry has a wide range of departments, each of which has different functions, and they all affect brand interests. The marketing department is also vital for a brand. Kiron said (2022) that digital marketing is more convenient. It can connect with customers more quickly and efficiently, which is more conducive to improving brand interests and brand mindfulness. The digital marketing department makes the fashion industry experience a revolution. Consumers can get the latest fashion news more easily and quickly. Digital marketing has promoted the development of the fashion industry.


The development of new products is essential for a brand to remain competitive. Bandinelli et al.(2013) found the efficiency of the R&D department of new products plays a great role in enhancing brand competition.

Fig1. Kanye West Yeezy’s cretive director(news.sky.com, 2022)

How creative directors balance the gap between creativity and business is a topic of great concern. An excellent creative director needs to have many different abilities. Russell commented (2022) Fashion design creativity is the most basic skill of creative directors in the fashion industry. Creative directors must be able to generate new ideas that attract target markets. Communication ability is also very important, which can help him to better communicate with his employees and establish contacts with potential partners in the fashion industry. In addition, the most important thing is to effectively communicate with the business department to find design and marketing solutions that are more conducive to maximizing the benefits of the brand(work.chronic.com, 2018). Mondalek pointed out (2019) “The role of the creative director has become more complex, evolving to include store strategy, social media and advertising campaigns, and global brand vision (voguebusiness.com, 2019), The brand benefits have been further improved.

Reference

Admin (2021) What is fashion industry and it’s key factors of fashion industry?, bfashionacademy. bfashionacademy. Available at: https://bfashionacademy.com/key-sectors-of-fashion-industry/ (Accessed: October 23, 2022).


Bandinelli, R. et al. (2013) “New product development in the fashion industry: An empirical investigation of Italian firms,” International Journal of Engineering Business Management, 5, p. 31. Available at: https://doi.org/10.5772/56841.


Business’], contributorN.[‘V. (2020) What luxury fashion brands want in a creative director, Vogue Business Talent. Vogue Business. Available at: https://www.voguebusiness.com/talent/articles/luxury-fashion-brands-creative-director-balmain-louis-vuitton-virgil-abloh/ (Accessed: October 23, 2022).


Kiron, M.I. (2022) Impact of digital marketing in Fashion Industry, Textile Learner. Available at: https://textilelearner.net/impact-of-digital-marketing-in-fashion-industry/ (Accessed: October 23, 2022).


Muis, B. and Team, C. (2020) 16 ways to increase your fashion brand’s profitability this year – conceptable – consultancy and mentoring for the fashion, performance and Leisure Products Industries, Conceptable. Available at: https://conceptable.com/16-ways-to-increase-your-fashion-brands-profitability-this-year/ (Accessed: October 23, 2022).


Radonic, D. (2022) The most important fashion industry statistics in 2022, FashionDiscounts. FashionDiscounts. Available at: https://fashiondiscounts.uk/fashion-industry-statistics/ (Accessed: October 23, 2022).


Windermere, A. (2018) The skills for a creative director in Fashion, Work. Available at: https://work.chron.com/skills-creative-director-fashion-16930.html (Accessed: October 23, 2022).

Picture Reference

Kanye West’s Twitter and Instagram accounts restricted after alleged antisemitic post (2022) Google. Google. Available at: https://www.google.co.uk/amp/s/news.sky.com/story/amp/kanye-wests-twitter-and-instagram-accounts-restricted-after-alleged-antisemitic-post-12717097 (Accessed: October 23, 2022).

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People

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People 

People is one of the four pillars of fashion in fashion business school. DL (2012) said that human beings have created fashion, fashion is defined by human beings, human behaviour will have a huge impact on fashion, and fashion is also a unique tool for people to express themselves. People in different times will have a different understanding of fashion, and use different ways to contact and display fashion. Trends also affect people to a certain extent, and Gen-Z is greatly affected (BBC. com, 2021). 
Fig.1 Gen-Z group(wrike.com, 2022)

Gen-Z is a generation that grew up under the influence of the Internet. They are surrounded by the Internet. Compared with people of other generations, Gen-Z is keen to use the Internet for shopping and is better at using social media. They prefer to be different and prefer customized services. In addition, they attach great importance to corporate responsibility and brand behaviour, and brand ethics is extremely important (McKinsey&Company, 2018). They are more focused on sustainability and brand diversity than other generations. 

First of all, brands should focus on creating goods that Gen-Z likes. Report ‘True Gen’: Generation Z and its implications for companies commented that Gen-Z is keen on private customization. They want to pursue uniqueness and reflect their uniqueness. 

Secondly, this generation is extremely concerned about protecting the environment (sustainable development). Gen-Z is aware of the impact of climate change on the earth, and they are willing to make more changes to ensure the integrity of the earth in the future (ulster. ac. uk). According to the data from Admin, about 70% of young people aged 16-19 are more willing to buy sustainable products, which is significantly higher than that of Baby Boomers (mintel.com, 2020).

Gen-Z proved that they are willing to buy sustainable products with practical actions. Finally, the brand should pay attention to the way of product sales. As mentioned above, Gen-Z is a generation that has grown up on the Internet. The brand should actively develop and improve online services to create a more innovative shopping method. 
Fig.1 Nike Group(uni-europa.org, 2021)

Nike has set a goal for brand diversification, which is planned to be completed in 2025. Thomas’s (2021) statement Nike wants to create a more diversified and inclusive workforce. In addition, Nike wants to have in-depth discussions with companies that have made progress in employee diversity and inclusiveness to better improve its internal situation. 

Brand marketing is a very important point. Social media marketing activities are helpful to enhance brand awareness, establish a brand image, and enhance brand awareness (bmij. org, 2018). Social media marketing activities have a significant impact on brand loyalty. 

Reference

Admin, M., 2020. Britain’s thrifty young fashionistas: More than half of 25-34-year-olds buy second-hand clothes. [online] Mintel.com. Available at: <https://www.mintel.com/press-centre/retail-press-centre/britains-thrifty-young-fashionistas-more-than-half-of-25-34-year-olds-buy-second-hand-clothes/amp> [Accessed 15 October 2022].

BİLGİN, Y., 2018. THE EFFECT OF SOCIAL MEDIA MARKETING ACTIVITIES ON BRAND AWARENESS, BRAND IMAGE AND BRAND LOYALTY. Business &amp; Management Studies: An International Journal, [online] 6(1), pp.1-2. Available at: <https://www.bmij.org/index.php/1/article/view/839.1> [Accessed 16 October 2022].

DL, V., 2012. The Role of Fashion in Human Culture – Thought Economics. [online] Thought Economics. Available at: <https://thoughteconomics.com/the-role-of-fashion-in-human-culture/> [Accessed 16 October 2022].

Francis, T. and Hoefel, F., 2018. ‘True Gen’: Generation Z and its implications for companies. The influence of Gen Z—the first generation of true digital natives—is expanding. [online] pp.2- 5. Available at: <https://www.mckinsey.com/~/media/McKinsey/Industries/Consumer%20Packaged%20Goods/Our%20Insights/True%20Gen%20Generation%20Z%20and%20its%20implications%20for%20companies/Generation-Z-and-its-implication-for-companies.pdf> [Accessed 14 October 2022].

George, C., 2021. Gen X, Gen Z, Millennials: Which has the best style?. [online] Bbc.com. Available at: <https://www.bbc.com/culture/article/20210222-gen-x-gen-z-millennials-which-has-the-best-style> [Accessed 14 October 2022].

Ulster.ac.uk. n.d. The sustainability generation: Why do Generation Z care about this planet?. [online] Available at: <https://www.ulster.ac.uk/faculties/ulster-university-business-school/updates/other/the-sustainability-generation-why-do-generation-z-care-about-this-planet> [Accessed 15 October 2022].

Thomas, L., 2021. Nike sets fresh diversity targets for 2025, and ties executive compensation to hitting them. [online] cnbc.com. Available at: <https://www.cnbc.com/2021/03/11/nike-sets-diversity-goals-for-2025-ties-executive-comp-back-to-them.html> [Accessed 16 October 2022].

Picture Reference

Udoagwu, K., 2022. Marketing to Gen Z: Complete Marketing Strategy Guide | Wrike. [online] Wrike.com. Available at: <https://www.wrike.com/blog/marketing-gen-z-marketing-strategy-guide/#Who-is-Gen-Z> [Accessed 16 October 2022].

UNI Europa. 2022. They Just Did It: Koop-IS signs the first collective agreement for Nike workers in Turkey – UNI Europa. [online] Available at: <https://www.uni-europa.org/news/they-just-did-it-koop-is-signs-the-first-collective-agreement-for-nike-workers-in-turkey/> [Accessed 16 October 2022].

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Planet 

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The planet is the homeland on which human beings live and is extremely important to human beings. The lifespan of the planet affects the survival of human beings. The planet is also one of the four pillars of fashion discussion and is an extremely important part of the fashion industry. The other three points are people, profit and purpose, which are closely related to the fashion business. 

Fig,1 Circular economy recycling figures and Earth(sfgoodwill.org, 2020)

Circular Economy is important in the fashion industry, which involves sustainable development. MacArthur (2020) said Circular Economy is considered to be the most promising solution to the sustainability problem. Stable (2016) mentioned that the circular economy will transform the end-of-service life commodities into resources of other commodities, close the cycle of the industrial ecosystem, and minimize waste. Circular Economy is not only simple recycling but also needs to be reused as much as possible. Recycle the things that cannot be reused, repair the damaged things, and then manufacture the things that cannot be repaired. Finally, the impact of the discharged waste on the environment is minimized. 

Joy’s (2021) statement Sustainable fashion essentially refers to the production of clothing in an ecologically and socially responsible way, which is the most basic concept. Customers can choose a more sustainable way of purchasing. Sustainable fashion does not need to buy anything new. For example, second-hand shopping and exchange from friends are both ways of the sustainable fashion movement, and there is no need to produce or buy anything new. Sustainable development is more like a concept and attitude in the fashion industry, including everything beneficial to ecology and society. The ultimate goal is for our planet. 

Fig,2 SDG 13 Target（remake.world, 2020）

In recent years, with the development of society, people’s demand for fashion has risen sharply, and the fashion industry has developed rapidly, which has brought many negative impacts to the planet in the process of development, affecting ecological balance and destroying the environment (Charoil, 2017). The United Nations has proposed 17 SDGs for better sustainable development. Goal 13 is climate action climate change is closely related to the fashion industry. The fashion industry contributes nearly 10% of global carbon emissions and 20% of global wastewater, fashion and textile companies promise to achieve net zero emissions by 2050 and solve their role in climate change (Lai, 2022). Fashion is now a major contributor to climate change. 

Fig,3 Carbon Emission (azocleantech.com, 2019)

Reference

Banerjee, V., 2020. circular economy. [image] Available at: <https://sfgoodwill.org/goodwill-has-always-been-in-circular-fashion/> [Accessed 8 October 2022]. 

Charpail, M., 2017. Fashion & Environment — SustainYourStyle. [online] SustainYourStyle. Available at: <https://www.sustainyourstyle.org/en/whats-wrong-with-the-fashion-industry> [Accessed 8 October 2022]. 

JOY, E., 2021. What is Sustainable Fashion + Why Does it Matter?. [online] consciouslifeandstyle. Available at: <https://www.consciouslifeandstyle.com/what-is-sustainable-fashion/> [Accessed 8 October 2022]. 

Lai, O., 2022. What is the United Nations Fashion Industry Charter for Climate Action? | Earth.Org. [online] Earth.Org. Available at: <https://earth.org/what-is-the-united-nations-fashion-industry-charter-for-climate-action/> [Accessed 8 October 2022]. 

Shuterstock, k., 2019. Detecting Carbon Emissions with Sensors. [image] Available at: <https://www.google.co.uk/amp/s/www.azocleantech.com/amp/article.aspx%3fArticleID=830> [Accessed 8 October 2022]. 

Stahel, W., 2016. The circular economy. [online] Available at: <https://www.nature.com/articles/531435a> [Accessed 8 October 2022]. 

Stanton, A., 2020. GOAL 13: Climate Action. [image] Available at: <https://remake.world/stories/news/how-the-united-nations-sdgs-relate-to-the-fashion-industry/> [Accessed 8 October 2022]. 

Recycle Track Systems. 2020. What is Circular Economy & How Does It Work? : Complete Guide – RTS. [online] Available at: <https://www.rts.com/resources/guides/circular-economy/> [Accessed 8 October 2022]. 

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My Favorite Fashion Brand-LI NING

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Li Ning is a famous Chinese sports brand. The brand founder is a famous gymnast Li Ning and he is a great athlete. Li Ning founded this brand in 1990, and Li Ning was listed in Hong Kong in 2004. In October 2020, the market value of Li Ning exceeded 100 billion Hong Kong dollars(lining. com,2022). Li Ning covers a wide range of fields, including sportswear, casual fashion, sports equipment and large-scale sports facilities. Li Ning was the first Chinese sports brand to appear in New York Fashion Week in 2018. “Photos” received a positive response at the Fashion Week,
Li Ning’s design and creation have always been leading Chinese local sports brands, adding a large number of Chinese traditional cultural elements to the clothing design, and also applying a lot of Chinese traditional crafts, which has successfully presented China’s unique beauty to the world. Li Ning has several brand branches, Li Ning, Lin young, Li Ning and Lin Wade in China. The inspiration for Li Ning series products in China is very successful. The design of clothing is closer and closer to the style of world fashion brands, and its products were once popular throughout the network. In the WADE series, we try to use the latest technology and fabric to break through ourselves, constantly innovate ourselves, and always use the latest basketball technology to create the latest basketball shoes. Li Ning has signed a lifetime contract with NBA star Wade, as well as with many other NBA players. It is a very influential sports brand. Li Ning sells its brands through multiple channels, such as atm os, Kith and Ssense, and has many physical stores and a perfect network platform.
Li Ning is also an enterprise with a sense of social responsibility. Li Ning was appointed as “WFP Anti Hunger Goodwill Ambassador” by WFP. Donations have been made to disaster areas many times, calling for the protection of wildlife and women’s rights. Li Ning is a great brand.
Li Ning said Li Ning is committed to becoming an international first-class professional sports brand enterprise with fashion attributes originating in China and recognized by the world (lining.com, 2022)

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