Macy Coutts

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Profit

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Profit focuses on balancing the importance of art and commerce within a brand and understands that the economy within the fashion industry does not solely focus on monetary value. It should be viewed through a more holistic lens, where the economy is a series of systems which humanity provisions the requirements of life and society. 

The fashion industry has been regarded as “one of the key-creating industries for the world economy” (McKinsey, 2016).  Before the Covid-19 pandemic it was generating $2.5 trillion USD in global annual revenue (McKinsey, 2021). However, in 2020 the value of the fashion industry has dropped and in 2021, it was worth $1.7 trillion USD (Fashion United, 2021). Furthermore, the “20% decline in revenues for the 2019-2020 fiscal year” (McKinsey, 2021), exemplifies the effect of the pandemic on the size of the fashion industry.  

The various sectors of the fashion industry include fashion design and production, retail, media and e-commerce. The retail sector “enjoyed a 7.5% growth in 2021-2022” (Fashion United, 2021) and a further 6.1% growth is expected in 2023, where the value of the sector will jump to $1.95 billion USD (Fashion United, 2021) (see fig 1). The booming of the e-commerce sector can be credited to the Covid-19 pandemic and showed it is vital for brands to focus on marketing and e-commerce strategy, particularly appealing to the Gen Z consumer. E-commerce sales have continued to rise to $4.9 trillion in 2022 (Fashion United, 2021) which accounts for almost 20% of all retail sales worldwide (Fashion United, 2021). This became a permanent change where 48.6% of the Gen Z consumers prefer to shop online (Drapers, 2022) and regularly consume media online. Social media influencers are their main source of inspiration for their next purchase and brands can capitalise on this during uncertain economic times. Influencers are viewed to be more authentic because they “have the privilege of far more freedom in what they write” (Mitterfellner, 2019 p.83) and in what they promote.  

Figure 1 Retail Sector Growth (Fashion United, 2021)

The creative director bridges the gap between creativity and commerce through protecting the artistic value of their brand thus protecting its commercial value. Virgil Abloh (see fig 2), the CEO of Off White, a luxury streetwear brand was able to understand the relationship between art and commerce. Through adding his signature label, with the iconic quotation marks, he gave once ordinary objects a sense of exclusivity (see fig 3). This exemplifies that “what is involved is not the rarity of the product but the rarity of the producer” (Bourdieu, 1983 p.137). Creative directors understand that through creating products that are viewed as art, they can ensure the economic capital of their brand will remain high.  

Virgil Abloh Biography and Career Timeline | Vogue
Figure 2 Virgil Abloh (Vogue, 2022)
Off-White Quote Tote Bag Black & White | END. (UK)
Figure 3 Off white tote bag with iconic label and quotation marks (end clothing, n.d.)

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People

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‘People’ focuses on those at each touch point of the fashion industry and other industries that are connected to a fashion brand. People who come from all over the world are the driving force of the fashion industry, yet they are rarely represented. Diversity is the practice of including a variety of people and has not been a focus of the fashion industry in the past, thus becoming an integral value under the ‘people’ pillar.  

Diversity is one of the most important values to the ‘Gen Z’ consumer, who are currently changing the way “people consume and relate to brands” (Francis & Hoefel 2018). Gen Z are people born between the years of 1995 and 2010, they are “true digital natives” (Francis & Hoefel 2018) as they are the first generation to grow up with exposure to the internet and technology. This generation of consumers highly value transparency within companies to ensure they align their values as “46.8% of gen Z shoppers say that they will abandon a purchase if the brand does not align with their values” (Drapers, 2022). Crucial values for the Gen Z consumer include ethical production, environmental sustainability, individuality, convenience and diversity and equality. It is important for companies to understand what attracts the Gen Z consumer and how they can implement this within their own brand. Convenience is very important to this generation and can be implemented through fast deliveries, which are important to about 45% of Gen Z consumers. This has been exemplified by ‘Skims’ who launched 2-hour delivery for Los Angeles based shoppers in 2022 (Drapers, 2022).  

‘Djerf Avenue’ has responded to diversity with authenticity and sincerity. It was founded in 2019 by influencer Matilda Djerf and her boyfriend Rasmus Johansson and focuses on creating “a fashion brand that was completely welcoming and inclusive of everyone” (NY Times, 2022). They have shown this through the models they use on their website and their head office employees (see Fig 1). To represent the diversity within the brand, they shoot people of all sizes, races, ethnicities and those with disabilities. Specifically, recent drops have featured a model with Down Syndrome (see Fig 2) aiming to help “people feel less alone” (NY Times, 2022), normalising the use of models who previously been ostracised.

(Fig 1 – Djerf Avenue Head Office Team, 2021) 

(Fig 2 – Down syndrome model, Nora Ahlstrom, modelling for Djerf Avenue’s new drop, 2022) 

Key people skills can be based around the Inner Developmental Goals (IDG) framework which focuses on “what abilities, qualities or skills we need to foster among individuals” (IDG, 2022). Under this framework and within the context of diversity, openness is the most important skill to possess. Focuses on “having a basic mindset of curiosity and willingness to be vulnerable and embrace change and grow” (IDG, 2022) is crucial to diversity as without it, the industry cannot move forward from its Eurocentric and dated mindset.  

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Planet

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‘Planet’ is one of the four pillars that are discussed within the context of the Fashion Business Strategy. It is an integral pillar as the fashion industry is one of the major industry contributors to climate change and world pollution. Thus, this pillar mainly focuses on sustainability, which can be defined as “meeting the needs of the present generation without compromising the ability of future generations and their needs” (Brundtland Report, 1987). Within fashion, this definition is discussed in relation to environmental sustainability and how it is imperative that the earth’s resources and ecosystems are saved from depletion. Sustainability in fashion focuses on how the industry can continue to create garments through “new ways of thinking and practices in relation to design, production, communication, wearing and enjoying fashion” (Condé Nast, 2020) and how they sustain these practices for generations to come.  

A circular economy is where the end of the life of a garment is taken into consideration by the designer, this model of “circularity is often described as a system where all materials are indefinitely recyclable or biodegradable” (Gwilt. A 2020). The key principles of a circular economy include regenerating natural systems, designing out waste and pollution, and keeping products and materials in use. The circular economy intends for better environmental, societal and economic outcomes which are currently missed in the traditional linear model. In traditional models of production, once the garment is purchased by the consumer, the designer is no longer responsible for it whereas, the circular economy challenges this idea by encouraging the designer to think of the end-of-life stage whilst designing the garment. As the garment comes to the end of its life, it can be repaired, reused or recycled into another piece of clothing, thus reducing waste.  

Fig 1 – Circular Economy Model (Gwilt A, 2020) 

The 17 Sustainable Development Goals (SDG’s) were adopted by the United Nations in 2015 as a call to action “to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity” (UNDP, 2022). One of the most relevant SDG to the fashion industry is goal number 12, responsible consumption and production. Currently, the fashion industry is majorly contributing to “unsustainable patterns of consumption and production” which are the primary causes of climate change, biodiversity loss and pollution. The linear model of production is a primary contributor as its extreme mass manufacturing has led to major increase in emissions where the “fashion industry is responsible for 8-10% humanity’s carbon emissions – more than all international flights and maritime shipping combined” (UNEP,2018). These figures force the fashion industry to re-evaluate the current processes of production and consumption and move to newer and more innovative processes, including a circular economy, which has a positive effect on the environment.  

Reference List  

Brundtland, G., 1987. Report of the World Commission on Environment and Development: Our Common Future. United Nations General Assembly. 

Condenast.com. 2022. Condé Nast launches The Sustainable Fashion Glossary. [online] Available at: <https://www.condenast.com/news/conde-nast-launches-sustainable-fashion-glossary> [Accessed 9 October 2022]. 

Gwilt A, 2020, A Practical Guide to Sustainable Fashion, London, Bloomsbury Publishing USA 

Sdgs.un.org. 2022. THE 17 GOALS | Sustainable Development. [online] Available at: <https://sdgs.un.org/goals> [Accessed 9 October 2022]. 

UNEP. 2022. Putting the brakes on fast fashion. [online] Available at: <https://www.unep.org/news-and-stories/story/putting-brakes-fast-fashion> [Accessed 9 October 2022]. 

UNDP. 2022. Sustainable Development Goals | United Nations Development Programme. [online] Available at: <https://www.undp.org/sustainable-development-goals> [Accessed 9 October 2022]. 

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Réalisation Par

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Realisation Par was founded in 2015 by two Australian women Alexandra Spencer and Teale Talbot. The brand was created to represent all women, their lives and friendships, as they are the inspiration behind the one-off pieces that the brand is known for. Through their pieces, the brand aims to bring confidence to women who wear them, hoping to help cultivate and accentuate their own personal style. Realisation Par are known for their feminine, 90s inspired pieces, in particular their iconic dresses. All prints and fabrics that Realisation Par uses, are unique to their brand. All their dresses are made from 100% silk and their signature prints are designed in house by a small team of creatives. Realisation Par are also know for their collaborations, having created collections 90s supermodel, Claudia Schiffer, Elton John and Devon Lee Carlson.  However, in the early days, Réalisation Par gained its cult status by launching the Alexandra wrap dress. This dress became a celebrity staple and gave Réalisation Par recognisability that it has today.

Further to this, Réalisation Par not only focus on their clothes but the aesthetic of the brand as whole, making it one of the most recognisable brands on the market today. They have coined the phrase “Réal World” which encapsulates the unique visual of Réalisation Par. They focus on capturing the in between moments believing that photos aren’t just photos but also memories.

Réalisation Par is one of my favourite brands because of the style of clothing they make. Their dresses are fun and make me feel confident when I wear them. I also love the fact they focus on high quality materials and creating pieces that are unique to their brand.

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