Conghao Xu

Profit is the ultimate goal and driving force of business activities. A brand cannot function without profit. Brand strategy and behaviors are all for short-term or long-term profit. Without doubt, fashion industry is driven by profit.

As fashion industry develops, in 2022, it is expected that the fashion sector’s revenue would total US$0.99 trillion with a projected market volume of US$312.20 billion (Statista, 2021). At the same time, various sectors in fashion industry produce different results. According to Luxury Outlook 2022: Advancing as a Responsible Pioneer by Boston Consulting Group and Comité Colbert, the French luxury goods association, which included participation from across the industry and 40 interviews with heads of luxury houses, the global luxury industry is anticipated to increase from an estimated €388 billion in 2022 to an estimated €494 billion in 2026 (Joël et al. 2022). However, fast fashion industry has the opposite results. over the past ten years, the fast-fashion industry has expanded significantly, but the COVID-19 epidemic momentarily slowed this growth. One of the major issues for fast fashion in 2020 was the downturn in the economy, which resulted in a 12.32% decline in market value and a £23 billion drop in revenue. But according to experts, the market won’t fully recover until 2023, when it’s anticipated to generate up to £28 billion in sales (Research and  Market, 2022). It is obvious that the current market environment is very complicated.

Under the double pressure of such a complex current situation and the unknown future economic situation, only to maintain and improve the competitiveness of the brand can ensure profits, but it is extremely challenging. In terms of consumer goods, great products make better profits. This will test the brand’s operators: creative director. Perfect design does not necessarily bring great economic benefits and design that generates a lot of profit can also be bad in artistic creation. How to balance the creativity and commerce is a constant question for creative director. Conversations are more likely to lead to productive exchanges between the arts and business than strategies and processes due to their distinct but connected and interacting connection. In the artistic creation at the same time appropriate consideration of commercial factors but can maximize the realization of artistic value is the way to bridge the gap between creativity and commerce. From marketing strategy, creative director can not just sacrifice design for economic benefit. It is necessary to effectively communicate and discuss the best cooperation scheme.

Bibliography

Joël, H., Sarah, W., Filippo, B. and Benjamin, F. (2022). How Luxury Companies Can Advance as Responsible Pioneers. [online] Available at: <https://www.bcg.com/publications/2022/luxury-outlook-advancing-responsible-pioneer> [Accessed 22 October 2022]

Research and Market. (2022) Fast Fashion Global Market Report 2021: COVID-19 Growth and Change to 2030. [online] Available at: <https://www.researchandmarkets.com/reports/5321430/fast-fashion-global-market-report-2021-covid-19?utm_source=dynamic&utm_medium=GNOM&utm_code=8qcgtg&utm_campaign=1398970+-+Global+Fast+Fashion+Market+Report+(2020+to+2030)+-+COVID-19+Growth+and+Change&utm_exec=jamu273gnomd> [Accessed 22 October 2022]

Statista. (2021). Fashion – Worldwide. [online] Available at: <https://www.statista.com/outlook/dmo/ecommerce/fashion/worldwide> [Accessed 22 October 2022]

Among in four pillars, people are the target of the entire fashion industry. Brands rely on people’s consumption behaviour to form a more healthy and stable development. At present, the hot spot Gen Z and diversity are the two key things about people that fashion business follows.

Gen Z 

With 2 billion Gen Zers worldwide, the Gen Z age group now makes up a little more than one-quarter of the world’s population, making it the biggest living generation (Cushman & Wakefield, 2020). However, the purchasing power and disposable income of Generation Z is growing steadily and they are standing at and interesting crossroads in age from 11 to 24 (Henry, 2022).  As they gradually become the major consumer, Gen Z has unique feature simultaneously in consumer behaviour. The GlobalWebIndex survey indicates that 98% of Generation Zers globally own smartphones. Data on social trends and technology for Generation Z in North America shows that 96% of this age group owns a phone (Katie, 2017). Thus, social media plays a significant role. Generation Z has a very different attitude toward social media and digitization in general and is essentially born with a phone in their hand. They utilise social media to interact with their favourite brands, conduct product research, and look for inspiration. In the US, 60% of Generation Z uses Instagram to find new companies, goods, and services. Americans between 18 to 34 made 48% of their purchases online (Voyado Elevate, 2022). Meanwhile, according to 68% of Gen Zers, they are very aware of their place in the world and work hard to make it a better place for next generations so that 56% of them think they are socially responsible, and more than half purchase products from firms that practise these values (Matt, 2019). 

On account of Gen Z’s characters above, Gen Zers more frequently support their ideals through their purchasing decisions, supporting companies that share their values and avoiding those that don’t. Stand the perspective of fashion brand, capturing the Gen Z becomes their main concern. In view of the above mentioned characteristics, social media and sustainability are the keys to the tiebreaker. A spring 2019 survey from investment bank and asset management business Piper Jaffray found that 73% of Gen Zers (those ages 7 to 22 according to the report) preferred brands to contact them about new items using Instagram, with Snapchat coming in second at about 50% (Lucy, 2019). The emphasis on social media will play an important role in attracting Gen Z and brand development. In addition, according to the report, both millennials and Gen Z are more inclined to turn away from firms that do not take a position on crucial issues like the environment, diversity, sustainability, etc. or whose values do not align with theirs (Frida, 2021). Young consumers are more likely to spend extra for clothing that is from a sustainable or socially conscious company, which is an advantage. You can increase trust among Generation Z by communicating these initiatives. Here, it’s critical that you understand where you stand and have a plan for how to actually influence your viewpoints. Avoid “woke-washing” at all costs since it will harm your reputation.

Diversity

Diversity is necessary in fashion industry including internal, external, organisational and world view. Fashion brands’ pursuit of diversity will be a shot in the arm for the brand image. The Fall/Winter 2021-2022 collection by Balenciaga demonstrated the company’s engagement and support of the LGBTQ+ community with rainbow flags and sweatshirts with the word “gay” emblazoned on them. Balenciaga’s design director Demna Gvasalia is introducing a new capsule collection for Pride Month that celebrates the community. T-shirts, baseball caps, undergarments, socks, and bracelets make up this ensemble. Additionally, The Trevor Project, an organisation that strives to prevent suicides among young gay, lesbian, bisexual, transgender, and queer individuals worldwide, will receive 15% of revenues from the Balenciaga Pride 2021 collection (Marie, 2021). The campaign have shown that Balenciaga inclusive of different groups, and have created a well-rounded brand image while arousing the passion of certain consumer groups.

Gen Z and diversity are people topics that fashion brands can not get away from. The key people skill that fashion brands want to be successful is to embrace Gen Z and be inclusive about diversity. People will be placed in an important position in the development of the brand. At the same time, fashion brands will be quick to respond to the public people issues and have the ability to execute, as well as the necessary voice.

Bibliography

Cushman & Wakefield. (2020). Demographic shifts: the world in 2030. [online] Available at: <https://issuu.com/cw-red/docs/cw_demographic_shifts> [Accessed 15 October 2022]

Frida, E. (2021). Marketing to Gen Z: What fashion brands need to know. [online] Available at: <https://www.curemedia.com/marketing-to-gen-z-what-fashion-brands-need-to-know/> [Accessed 15 October 2022]

Henry, B. (2022). Gen Z consumer behavior: What you need to know. [online] Available at: <https://www.talon.one/blog/gen-z-consumer-behavior-what-you-need-to-know> [Accessed 15 October 2022]

Katie, Y. (2017). Chart of the day: 98% of Gen Z Own a Smartphone. [online] Available at: <https://blog.gwi.com/chart-of-the-day/98-percent-of-gen-z-own-a-smartphone/> [Accessed 15 October 2022]

Lucy, K. (2019). Gen Z Goes to the ‘Gram for New Products, Brand Engagement. [online] Available at: <https://www.insiderintelligence.com/content/gen-z-goes-to-the-gram-for-new-products> [Accessed 15 October 2022]

Marie, C. (2021) Pride Month: 13 brands that are supporting the LGBTQ+ community. [online] Available at: <https://www.vogue.fr/fashion/article/pride-month-fashion-brands-supporting-lgbt-community> [Accessed 15 October 2022]

Matt, E. (2019). Gen Z marketing: giving the youngest generation what they want. [online] Available at: <https://99designs.co.uk/blog/marketing-advertising/gen-z-marketing/> [Accessed 15 October 2022]

Voyado Elevate. (2022). How is Generation Z shopping? [online] Available at: <https://www.apptus.com/blog/generation-z-online-shopping-habits/> [Accessed 15 October 2022]

Planet is one of the four pillars of sustainability which focuses on environment. However, the fashion industry has a great impact of the planet all the way. After the oil business, the fashion industry is the second biggest polluter in the world. And as the sector develops, the environmental harm gets worse. The fashion sector uses a lot of water. All of our clothing is dyed and finished using a significant amount of freshwater. For comparison, 200 tonnes of freshwater are required to colour one tonne of fabric (Mathilde, 2017). In addition, The production of clothing contributes 10% of the world’s carbon emissions, and the majority of the world’s clothing is made in coal-dependent nations like China, Bangladesh, or India. In terms of carbon emissions, this form of energy is the most harmful. Although one may argue that greenhouse gas emissions are produced elsewhere as well, they are produced during the production, manufacturing, and transportation stages of the fashion supply chain (Sarah, 2021). In order to improve the problems above, circular economy comes out.

The circular economy is a framework for systems-level solutions that addresses issues including pollution, waste, biodiversity loss, and climate change. Eliminate waste and pollution, circulate goods and resources at their highest value, and restore nature are the key principles of the circular economy. It is supported by a shift to renewable energy and resources. A circular economy dissociates the use of limited resources from economic activity. It is a robust structure that benefits society, the economy, and the environment (Ellen Macarthur Foundation, 2020). For the moment, circular economy is viable which fits the situation at present. In general, circular economy is a cycle by using less and eco-friendly material to keep production sustainable.

Sustainability plays an irreplaceable role in fashion industry. The word “sustainability” most frequently refers to the environmental effects of producing including creating, processing and manufacturing from raw materials, using, caring, and discarding clothing. Thus, the United Nations set 17 sustainable development goals to guarantee the word “sustainability”.

The 13th goal Climate Action has a strong relationship with the fashion industry. The urgency of the climate calamity facing the globe is exceeding our ability to respond to it. The pace of global emissions increased in 2017. Between 2030 and 2052, if current trends continue, global warming is predicted to reach at least 1.5 degrees Celsius, posing serious dangers to human security, food security, livelihoods, health, and economic growth. These effects will worsen in the absence of quick and comprehensive transitions (Kaysie and Krista, 2019).

Planet is the foundation of everything in daily life letting alone fashion industry. The whole fashion business has to treat it as the basis for all actions.

Bibliography

Ellen Macarthur Foundation. (2020) Circular economy introduction. [online] Available at: <https://ellenmacarthurfoundation.org/topics/circular-economy-introduction/overview> [Accessed 8 October 2022]

Kaysie, B.and Krista, R. (2019). The Sustainable Development Goal in 2019: People, Planet, Prosperity in focus. [online] Available at: <https://unfoundation.org/blog/post/the-sustainable-development-goals-in-2019-people-planet-prosperity-in-focus/> [Accessed 8 October 2022]

Mathilde, C. (2020). What’s wrong with the fashion industry? [online] Available at: <https://www.sustainyourstyle.org/en/whats-wrong-with-the-fashion-industry> [Accessed 8 October 2022]

Sarah, K. (2021). How The Fashion Industry Contributes To Pollution. [online] Available at: <https://www.sustainably-chic.com/blog/fashion-industry-pollution> [Accessed 8 October 2022]

UNSDGs. (2015) The 17 Goals. [online] Available at: <https://sdgs.un.org/goals> [Accessed 8 October 2022]

My favourite brand is Hed Mayner which is a quite young brand who won the LVMH Karl Lagerfeld Prize in 2019. Born in Amuka, Northern Israel, he began his studies at the Bezalel School of Fine Arts in Jerusalem, before flying to Paris where he studied and graduated from the French Institute of Fashion. After graduation, he founded his namesake brand and dropped first collection in 2015. 

The old Jewish tailoring is more about wrapping the body rather than shaping garment itself. At the same time, the idea of luxury does not exist in Jerusalem in the same way it does in Europe.  The tailoring is never really perfect, but it still looks refined and noble. Due to his culture background, his design shows a kind of religious mystery. 

(Back to the garments itself, )Hed Mayner focus on the connection between human and garments. Body language is the key word for the brand. He loves to use oversized silhouette and proportion which seems like wearing big brother’s jacket. It shows a sense of both strength and vulnerability. Meanwhile, some religious and military elements including decorative ear of wheats, strange but religious hats, cargo pocket also present in his garments. In terms of fabric, Hed Mayner usually uses cotton and linen to shape stiff silhouette. About colour scheme, he likes using low saturation collar such as creamy white, camel and light grey.

The reason why I love this brand is because Hed Mayner perfectly describe minimalism but not boring. Hed Mayner’s aesthetic system is quite novel and attractive. Their garments are lowkey but unique which high quality which met my needs of building my wardrobe.