Aleksander Pistsalkin

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Profit

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Profit as a pillar of sustainability

The fashion industry is one of the largest industries around the globe. The number of garments produced annually exceeded 100 billion as early as 2014 (Solene Rauturier, 2022). This number is almost 13 times higher than the world’s population. The amount of waste generated by the fashion industry is no less impressive, producing over 120 billion tons of CO2 annually (Jasmine Chinasamy, 2018). The number of clothes produced will increase every year, in parallel with the increase in demand, which will reach 93 million tons of clothes per year by 2030 (Solene Rauturier, 2022). These facts put the fashion industry on par with other market giants, like the beauty industry.

Fashion Industry Sectors

To maximise profit and understand the market, it is essential to understand how the sectors of fashion marketing are working in the fashion industry’s supply chain. Many segments are supporting the fashion industry. However, they can be categorised as designing, producing materials and clothes, and distributing and reaching the customer (Ania Zoltkowski, 2022). Other segments of the fashion industry are marketing and branding. They are the key to communicating the brand’s idea to the customers. Looking at the general idea of branding, creators usually try to develop a background that potential customers will associate with while wearing particular pieces of clothes.

How to be competitive in uncertain economic times?

Currently, many segments of the fashion industry supply chain are working toward a linear economy generating over 120 billion tons of CO2 annually (Jasmine Chinasamy, 2018). However, the circular economy is a more sustainable analogue to the linear economy (Figure 1). Furthermore, applying a circular economy might increase profits. Investing in high-quality materials and reusing them at the end of the lifecycle will contribute to reducing costs on energy and waste consumption (Gabriele Glebute, 2022)

Figure 1. Visualisation of linear and circular economy ( Jennifer Perr, 2020)

As stated earlier, marketing and branding are essential to attract customers and increase sales. Social media marketing can be one of the easiest and most efficient ways for successful marketing. Social media created an opportunity for small and big creators to demonstrate their works and sell them. Furthermore, many people are specifically looking to support small creators. Generally, social media makes it possible to build a stronger relationship with customers and multiply profits. For instance, a fashion industry giant, ASOS, has over 10 million followers on Instagram, which allows it to increase brand awareness and revenue. (Tiahn Wetzler, 2020) (Figure 2).

Figure 2. ASOS Instagram Page (Alejandra Jauregui, 2018)

Creativity and Commerce

There are two fashion industry aspects to keep in mind – creativity and commerce. It is often the creative director who brings these concepts together. For example, Balmain expects creative directors to work with design and develop an all-encompassing vision that will resonate with customers and can be promoted through social media. This fact again allows us to feel how strongly social media is implemented in the fashion industry (Alexandra Mondalek, 2019).

References

Chinasamy, J. (2019). London Fashion Week: Fast facts about fast fashion. [online] Unearthed. Available at: https://unearthed.greenpeace.org/2019/09/12/fast-facts-about-fast-fashion/.

Gabriele Glebute  (2022). Circular Economy: What is It and Why It’s Important in Business. [online] Available at: https://enterprisemadesimple.co.uk/circular-economy-business-benefits/ [Accessed 24 Oct. 2022].

Mondalek, A. (2019). What luxury fashion brands want in a creative director – Vogue Business Talent. [online] Vogue Business Talent. Available at: https://www.voguebusiness.com/talent/articles/luxury-fashion-brands-creative-director-balmain-louis-vuitton-virgil-abloh/.

Perr, J. (2020). Consumption, Sustainability, and the Circular Economy. [online] Hi-Cone. Available at: https://hi-cone.com/2020/08/the-total-cost-of-consumption/.

Rauturier, S. (2019). How Widespread is Waste in Luxury Fashion? [online] Good On You. Available at: https://goodonyou.eco/waste-luxury-fashion/.

Wetzler, T. (2020). Social media marketing for fashion brands | Adjust. [online] www.adjust.com. Available at: https://www.adjust.com/blog/social-media-marketing-for-mobile-fashion-apps/.

Zoltkowski, A. (2017). What On Earth Is A Clothing Supply Chain? [online] Good On You. Available at: https://goodonyou.eco/what-is-a-clothing-supply-chain/.

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People

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People as a pillar of Sustainability 

People’s opinion is critical to successful marketing in various industries. The fashion industry is not an exception. It is essential to consider the views of the younger generation – generation Z. In order to attract Gen Z, it is now necessary to consider both traditional and contemporary types of marketing. However, by focusing on contemporary types of marketing, the brand effectively manages to connect with the younger generation. For example, with the integration of social networks into people’s daily lives, brands are forced to demonstrate the entire journey that their products go through openly. The more transparent the brand shows its supply chain (Figure 1), the more customer trust it can earn. Dale Partridge identified seven core beliefs that will help a brand demonstrate people’s priority concerning profit. Some core beliefs are that people matter, truth wins, transparency frees, authenticity attracts, etc. (Peter Taylor, n.d.)

Figure 1. Fashion supply chain (ACTEEVISM, 2019)

Fashion brands and Gen Z

In order to most effectively focus on Gen Z, a brand needs to understand the generation’s demands. Gen Z is a generation that has grown and developed along with technological progress. So as stated earlier, a brand must consider contemporary marketing and e-commerce. Specifically important is social media shopping. Following a survey conducted by Drapers, 61% of Gen Z browse Instagram for fashion inspiration (Drapers Bespoke, 2022). However, technology is not the only thing Gen Z is worried about in the fashion industry. Going back to the same survey from Drapers, Gen Z considers Sustainability and Diversity more “fairly important” or “very important” than Millennials (Drapers Bespoke, 2022). In addition to clothing purchase preferences, Gen Z has several different qualities from previous generations (Figure 2). Brands should consider these qualities when making specific steps.

Figure 2. Intergenerational qualities (Tracy Francis and Fernanda Hoefel, 2018)

Gen Z’s drive to embrace pro-diversity and pro-equality has urged brands to take action. For example, in 2019, Burberry’s Christmas campaign featured the most racially diverse cast. (Sue Omar, 2020). The realistic approach to life and the search for justice on the part of Gen Z allow some of the brand’s actions to be questioned. Mistrust may arise if the brand invites people with the exact opposite disability, race, gender or sexuality. Such actions may raise doubts about the sincerity of the brand’s actions to promote diversity. This begs the question: Did the brand want to support people, or did it want to become famous using a popular topic?

Fashion entrepreneurship skills

In order to understand how brands proceed with their decisions, it is necessary to understand the qualities implemented in these decisions. Some essential characteristics are the part of emotional intelligence skills, featuring self awareness, self control, empathy and social skills (Iyinoluwa Oludiya, 2020). Some examples of negative qualities that alienate people from emotional intelligence are mentioned in Figure 3.

Figure 3. Characteristics of person with low emotional intelligence (Kendra Cherry, 2020)

References

ACTEEVISM (2022). [online] Available at: https://www.acteevism.com/2019/04/12/what-is-a-supply-chain-and-what-does-it-have-to-do-with-sustainable-ethical-fashion/

Kendra Cherry (2020). 9 Signs of Low Emotional Intelligence. [online] Verywell Mind. Available at: https://www.verywellmind.com/signs-of-low-emotional-intelligence-2795958

Moran, G. (2022). Gen Z and Millennials 2022. [online] Drapers. Available at: https://www.drapersonline.com/guides/gen-z-and-millennials-2022

Oludiya, I. (2020). Your Emotional Intelligence As A Fashion Entrepreneur Is Key In Relating With Clients. Here’s How To Develop It. [online] Mauvelli. Available at: https://mauvelli.com/your-emotional-intelligence-as-a-fashion-entrepreneur-is-key-in-relating-with-clients-heres-how-to-develop-it/ [Accessed 17 Oct. 2022].

Omar, S. (2020). Diversity in fashion: it’s time for the industry to change. [online] Raconteur. Available at: https://www.raconteur.net/hr/diversity-inclusion/diversity-fashion/

Peter Taylor (n.d.). People Over Profit – Actionable Books. [online] Available at: https://www.actionablebooks.com/en-ca/summaries/people-over-profit/ [Accessed 17 Oct. 2022].

Francis, T. and Hoefel, F. (2018). ‘True Gen’: Generation Z and its implications for companies. [online] McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies

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Planet

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Planet as a pillar of Sustainability

As one of the pillars of Sustainability, the planet undoubtedly plays a vital role in the entire fashion industry. Examples include the extraction of natural materials, fuel for production, and other material aspects. However, the development of the fashion industry is causing significant damage to the planet. The fashion industry produces over 120 billion tons of CO2 annually (Jasmine Chinasamy, 2018) and contributes to climate change and pollution. It is clear that human activities are causing climate crises, putting the planet in danger. Considering this fact and performing active steps, you can successfully achieve Sustainability. One of these steps is the circular economy, which will be discussed further.

Figure 1. Textile pollution in Bangladesh.

Circular Economy

The circular economy is the opposite of a linear economy. However, it is far more sustainable. One of the main issues with the linear economy is the disposal at the end of the lifecycle and extraction of new resources. The circular economy focuses on reusing resources, avoiding wasting and extracting new resources. It should be borne in mind that the planet is the vital pillar of sustainability. A circular economy is essential to maintain it. Following such a simple principle as re-using, re-manufacturing or recycling will reduce waste and achieve climate neutrality faster (André Gonçalves, 2019).

Figure 2. Visualisation of linear and circular economy

Sustainability and Fashion

The concept of Circular Economy can be easily applied to the Fashion Industry. Part of conveying this economy into fashion is using recyclable and eco-friendly fabrics. It can be seen that brands are starting to replace the usual fabrics with more sustainable ones. An example of such a material is Econyl, which has replaced traditional nylon. Econyl uses synthetic waste to create new nylon (Darcie Carruthers, 2019). Such active actions on the production stage belong to one of the Sustainable Development Goals – Climate Action. It is true to say that customers cannot directly contribute to production. However, customers can contribute to it through another SDG – Responsible Consumption and Production.

Figure 3. Examples of sustainable fashion.

Responsible Consumption and Production

Responsible Consumption and Production is the 12th goal of SDG. So as stated earlier, it is easier for a customer to contribute to this particular STG. One step is the measured purchase of new items of clothing. Studies say that people do not wear at least 50% of their own clothes (Marjorie van Elven, 2018). This reckless consumption contributes to higher production volumes and world pollution. Another step is deliberate washing. Plastic particles washed from our synthetic clothes are polluting the ocean (Katie Okamoto, 2021). Overall, by reducing the volume of clothes we buy and the number of clothes we wash by wearing more carefully, everyone can contribute to Responsible Consumption and Production. By contributing to such a vital SDG, we can maintain the environmental pillar of sustainability.

Figure 4. Visualisation of the ocean pollution caused by washing clothes

References

Alves, A. (2021). Sustainable Fashion – A Comprehensive Guide + 10 New Designers (2021). [online] the vou. Available at: https://thevou.com/fashion/sustainable-fashion/.

Carruthers, D. (2015). Material Guide: How Sustainable Is ECONYL? [online] Good On You. Available at: https://goodonyou.eco/material-guide-econyl/.

Chinasamy, J. (2019). London Fashion Week: Fast facts about fast fashion. [online] Unearthed. Available at: https://unearthed.greenpeace.org/2019/09/12/fast-facts-about-fast-fashion/.

Davis, N. (2020). Fast fashion speeding toward environmental disaster, report warns. The Guardian. [online] 7 Apr. Available at: https://www.theguardian.com/fashion/2020/apr/07/fast-fashion-speeding-toward-environmental-disaster-report-warns.

Islington Together. Circular economy | Together Greener. [online] Available at: https://togethergreener.islington.gov.uk/organisations/business-operations/circular-economy [Accessed 10 Oct. 2022].

Ljubljana, S. For World Oceans Day, People Want Washing Machines to Stop Polluting the Oceans. [online] Available at: https://www.newswire.com/news/for-world-oceans-day-people-want-washing-machines-to-stop-polluting-21404210 [Accessed 10 Oct. 2022].

Marjorie van Elven (2018). People do not wear at least 50 percent of their wardrobes, says study. [online] Fashionunited.uk. Available at: https://fashionunited.uk/news/fashion/people-do-not-wear-at-least-50-percent-of-their-wardrobes-according-to-study/2018081638356.

Okamoto, K. (2021). Your Laundry Sheds Harmful Microfibers. Here’s What You Can Do About It. [online] Wirecutter: Reviews for the Real World. Available at: https://www.nytimes.com/wirecutter/blog/reduce-laundry-microfiber-pollution/.

Youmatter. (2019). Only 9% of the world is circular. How has the linear economy been destroying the Earth? [online] Available at: https://youmatter.world/en/is-circular-economy-the-key-to-fight-climate-change-a-circle-economy-report/.

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Stoney

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The success of “Stoney”, officially Stone Island, at the initial stage and later can be attributed entirely to the merit of Massimo Osti, the founder of the Stone Island brand, which launched in 1982. Working on his other equally famous brand CP Company since 1970, Massimo gained experience, which undoubtedly played a role in the success of Stone Island.

Many people interested in the fashion industry and directly creating their products are familiar with silkscreen printing. Massimo Osti used this new technology to create the placed-print-based t-shirt collection for the Chomp Chomp brand in 1968. By developing Stone Island, Massimo became widely known for his innovative techniques.

* One of the Massimo Osti’s creations

A striking example of such techniques is the “Ice Jacket”, a thermosensitive jacket that drastically changes colour with temperature change. Another example of Massimo’s merit is the liquid reflective jacket which reflects light off tiny glass microspheres and changes colour when liquid hits the material. In the mid-1990s, Stone Island was taken over by Massimo’s friend Carlo Rivetti. Thanks to Carlo, the brand continues to grow to this day. An example of the modern technology used by Stone Island is e-dye, which allows the use of 85% less water, 90% less harmful chemicals, and 12% less CO₂ emissions compared to traditional piece dyeing. Using such technologies directly allows the brand to develop Corporate Social Responsibility.

* Stone Island “Ice Knit” Sweater

The rise of UK Grime music, where the brand was repeatedly mentioned, as well as American rappers such as A$AP Nast, Travis Scott and Drake, who often appeared in public at Stone Island, brought the popularity to the brand among young people. All this gave vast media exposure to the brand and allowed it to scatter on social networks. It is also worth noting that English football fans have built a whole culture around Stone Island. Although this is a relatively narrow caste of people, this gave some colour to the already rich history of the formation of Stone Island.

For many people, Stone Island is the reason for visiting vintage stores. The fact that Stone Island can be found on the secondary market allows people who choose pre-loved to enjoy the quality and design of the brand. Many people collect rare vintage Stone Island pieces from the Massimo Osti era, which makes buying used items even more reasonable.

To sum it up, it should be noted that Stone Island has a visible position in the fashion industry and goes beyond it, attracting completely different castes of people and bringing them together. Due to the positive influence of the brand, it can be deservedly put on a par with other market giants!

* Drake is wearing a Stone Island crewneck and his iconic specially crafted Stone Island chain.

References

  • blog.woodhouseclothing.com. 2022. Woodhouse Blog | Massimo Osti – The History Behind The Innovation. [online] Available at: <https://blog.woodhouseclothing.com/massimo-osti-the-history-behind-the-innovation/> [Accessed 2 October 2022].
  • Highsnobiety. 2022. Dear Americans, Here’s What You Need to Know About Stone Island. [online] Available at: <https://www.highsnobiety.com/p/stone-island-history/> [Accessed 2 October 2022].
  • Rivetti, C., 2022. MY HISTORY, MY COMPANY BY CARLO RIVETTI. [online] www.stoneisland.com. Available at: <https://www.stoneisland.com/experience/en/the-brand/my-history/> [Accessed 2 October 2022].
  • Halil, T., 2022. THE RISE OF STONE ISLAND: FROM HOOLIGAN TO HIGH FASHION. [online] CULTED. Available at: <https://culted.com/the-rise-of-stone-island-from-hooligan-to-high-fashion/> [Accessed 2 October 2022].
  • Instagram.com. 2022. Massimo Osti Archive (@massimoostiarchive) • Instagram photos and videos. [online] Available at: <https://instagram.com/massimoostiarchive?igshid=YmMyMTA2M2Y=> [Accessed 2 October 2022].
  • E-dye.com. 2022. e.dye®. [online] Available at: <https://e-dye.com> [Accessed 2 October 2022].
  • Instagram.com. 2022. champagnepapi • Instagram photos and videos. [online] Available at: <https://instagram.com/champagnepapi?igshid=YmMyMTA2M2Y=> [Accessed 2 October 2022].

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