Edward Dimayuga

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Purpose

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The purpose of a business stems further than the amount of profit that it aims to make but exploring the ‘why’ of its existence. By creating meaningful engagement between the brand and the consumer, purpose-driven leaders will assist this way of operating to create better economic opportunities for everyone.

Brand philosophy can be seen in the company’s corporate social responsibility and sustainability.

“Corporate social responsibility refers to companies taking responsibility for their impact on society” (Londrigan, 2018)

The mission and vision of a brand can be found within the brand’s mission statement which states the aims and values of a company or organization. This is an integral part of branding since this may be what draws the target group of consumers who share the same values and goals about their own impact on the environment and society. Additionally, every company should have an established CSR that reflects the brand’s philosophy. 

A brand’s purpose is often implemented throughout the process rather than solely at the start or the end. By not having an established or re-established purpose, brands tend to miss out on the social and ethical impacts they have on society. With a transparent supply chain and positive employee treatment, TOMS has been able to connect better with its consumers. (Londrigan, 2018)

There is no reason why brands should communicate their purpose other than that there is no other alternative. Gen Z expects companies to establish clear stances on social or political issues and by using social media, they can shape corporate behavior. (Curry, 2020) The blurred line between branded and unbranded content means that it can be easier for brands to speak and act on social and ethical issues. by creating this opportunity for both brands and potential consumers, there is greater transparency.

Digital campfires are smaller social media platforms where people can participate in shared experiences and connect to micro-communities. (Wilson, 2021) Tiktok is a digital platform with 100 million monthly active users. Through a user’s activity, the algorithm will match them with more of the same content and thus join a digital campfire for micro-communities. There is also an opportunity for large-scale global campaigns allowing brands to be more creative with their advertising, targeting both macro and micro-communities and ultimately creating a relationship and better consumer interaction.

Brands can use the Brand Advocacy Map to help navigate through potentially sensitive cultural and social terrain. (Curry, 2020) On two axes a brand can measure its credibility and depth of engagement. To make long-term equity within the company, they must invest time and money to make both internal and external changes. 

Londrigan, M.P., & Jenkins, J.M. (2018) “Corporate Social Responsibility and Sustainability.” Page 42

Londrigan, M.P., & Jenkins, J.M. (2018) “Corporate Social Responsibility and Sustainability.” Page 43

Curry, L. (2020) How Brands Can Follow Through on the Values They’re Selling Available at: https://hbr.org/2020/08/how-brands-can-follow-through-on-the-values-theyre-selling (Accessed: 4 November 2022)

Wilson, S. (2021) Where Brands Are Reaching Gen Z Available at: https://hbr.org/2021/03/where-brands-are-reaching-gen-z (Accessed: 3 November 2022)

Curry, L. (2020) How Brands Can Follow Through on the Values They’re Selling Available at: https://hbr.org/2020/08/how-brands-can-follow-through-on-the-values-theyre-selling (Accessed: 4 November 2022)

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Profit: Art and Commerce

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Profit is the 3rd pillar of fashion business which focuses on long-term financial success, balanced with brand purpose. This has become more important especially in the new state of the economy since profit is more driven by purpose rather than the other way around.

The size of the fashion industry can be measured monetarily and currently stands at $1.5 trillion USD and is predicted to increase to approximately $2 trillion by 2026 (Statista 2022).

For an economy to be successful, institutions must meet the needs and desires of consumers a major one being disposable income. Each sector in the industry needed to respond to these changes accordingly to remain competitive. When the pandemic hit, the marketing and communications sector of the industry became responsible to bring in sales and regulate profits. This is also faced with new standards that are linked to the environmental impacts of fast fashion and luxury labels on the planet.

Fashion is a necessity but past a certain point, it becomes a luxury, and consuming fashion at a sustainable pace is becoming more and more important but less and less accessible. This opens the door for brands to increase consumer interest in the brand and maintain profitability. Zara is the world’s largest clothing retailer, being responsible for churning out roughly 840 million garments every year in 6,000 stores worldwide. (Chua, 2019) The fast fashion sector has faced the largest impact in this new era of Gen Z consumers and post-pandemic industry changes.

The present overconsumption has raised questions amongst consumers and has seen a shift to find more sustainable and ethical options. Through the use of social media and consumer-driven change, brands can remain financially competitive in this new age since information is filtered to be digestible for the brand’s audience. (Hethorn and Ulasewicz, 2015)

On the other hand, this has given the chance to creative directors in the Haute couture sector to combine art and commerce. Consumers aren’t looking to purchase haute couture since it is already seen as a luxury, pushing artistic expression is a way for couture houses to remain competitive alongside the fast fashion sector, stirring important conversations in modern culture and society.

Demna has reinforced Balenciaga’s reputation as a streetwear brand and says that couture might become the driving force of fashion again. (Campbell, 2020) Balenciaga closed its couture house in 1968 and made a return with its Fall ’22 collection with direct references to Cristóbal Balenciaga’s work. Demna has been able to subtly bridge this gap between modern material technology and traditional patterns whilst marrying the art and commerce of fashion design and presentation.

Campbell, G. (2022) Demna Gvasalia is preparing us to care about couture for the first time. Available at: https://www.highsnobiety.com/p/balenciaga-haute-couture/ (Accessed: 2 November 2022)

Chua, J.M. (2019)  The environment and economy are paying the price for fast fashion – but there’s hope. Available at: https://www.vox.com/2019/9/12/20860620/fast-fashion-zara-hm-forever-21-boohoo-environment-cost (Accessed: 2 November 2022).

Hethorn, J., & Ulasewicz, C. (Eds.). (2015). Chapter 4-social media as a tool for social change Page: 81

Smith, P. (2022) Global apparel market – statistics and facts Available at: https://www.statista.com/topics/5091/apparel-market-worldwide/#topicHeader__wrapper (Accessed: 2 November 2022)

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Screenshot 2022-10-15 at 18.58.15

PEOPLE

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People is one of the four pillars of Fashion Business. It focuses on the health and wellbeing of society and how businesses can respond to cultural movement and diversity. 

Gen Z consumers represent a broad group of consumers who share several values and consumer habits. This demographic has grown up in the digital age, surrounded with technology and the internet their entire lives. It is important for a brand to keep an eye on the behaviour and preferences of Gen Z consumers because their likes and dislike will continue to evolve as they continue to purchase products. For example, growing social platforms like TikTok have opened storefronts to make accessing products easy and convenient for viewers. 

            “61.6% of Gen Z say they are familiar with the concept of the metaverse” (Moran, 2022)

Getting to grips with the metaverse will be beneficial to brands because they will be able to tackle the struggles of lack in transparency and diversity. These issues can be correlated due to the growth in convenience and fast-track shopping and the growing conscience of unethical practices. To attract Gen Z consumers, brands will need to adopt more modern forms of marketing but also represent and align themselves with the same values as modern society, regardless of any drastic changes in logistics which may temporarily affect sales and revenue but in the long run will prove more socially sustainable.

            “46.8% saying they have abandoned a purchase that did not align with their values.” (Moran, 2022)

The evolving fashion industry has continued to neglect diversity.  A sustainable fashion future will need to consist of different people from varied backgrounds and complete transparency of that with consumers.

With the ongoing Black Lives Matter movement, companies have been put under a microscope to improve and provide an insight to brands policies and regulations. Following the death of George Floyd, Nike responded accordingly by turning their slogan on its head with – Don’t Do It. They had intentions of combatting racism which was a much-needed cultural awakening. Although this may not have been the most financially beneficial business decision, they were able to bring awareness to the unfair treatment of black people.

For a fashion brand to be successful they will need to recognise the preferences and priorities of the consumer group they are targeting. The internal business culture should reflect the façade they present to the public in terms of a diverse workforce since this will give them improved access to talent, enhanced decision making and strengthened employee engagement.

“Companies with the most ethically and culturally varied executive teams are 33% more likely to outperform homogeneous competitors with regard to profitability” (Magnusdottir, 2020)

Magnusdottir, A. (2020) The Time Is Now For Diversity In Fashion https://www.forbes.com/sites/aslaugmagnusdottir/2020/11/17/the-time-is-now-for-diversity-in-fashion/?sh=282bdff06dc2 (13/10/2022)

Moran, G. (2022) Drapers, Gen Z and Millennials 2022: Introduction: The 2022 view https://www.drapersonline.com/guides/gen-z-and-millennials-2022 (13/10/2022)

Moran, G. (2022) Drapers, Gen Z and Millennials 2022: Sustainability and Values https://www.drapersonline.com/guides/gen-z-and-millennials-2022 (13/10/2022)

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Planet

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Planet is one of the four pillars of fashion business. It is centred around taking care of the resources we use and finding more sustainable ways of living. Based around sustainability, there are three main pillars consisting of social, environmental and economical responsibility. The fashion industry is currently worth 1.7 trillion but is going through an economic crisis due to post covid recovery.

The circular economy is a universal business principle whilst a circular fashion economy is defined as a regenerative system in which garments are kept in rotation whilst maintaining their maximum value then disposed of or upcycled back into the fashion ecosystem. Circularity is important to the sustainability and consumption of fashion since clothing supply chains account for around 8% of all greenhouse gas emissions with the UK being the biggest consumer of fashion in Europe. However, not all the garments end up having a lifecycle hence failing to contribute to a circular economy. 

Kate Fletcher then introduced the idea of slow fashion which talks about using better materials, working practices and skills. 

“Slow fashion is not a seasonal trend that comes and goes like animal print, but a sustainable fashion movement that is gaining momentum.”

Slow fashion is a newer principle that raises awareness on the harsh reality of the linear production process of garments. The data is changing all the time but most materials in which we use are all synthetics since they are easily accessible and however is extremely harmful for the environment due to the microfibres that make up the fabrics. The global fibre demand is largely from oil-based textiles at 63% which now is extremely dangerous as it is directly linked to war.

At each stage of the production process, we contribute to global warming and fashion brands have been known to be wasteful at the materials development and discarding stage. For example, Burberry has been known to burn their products and garments to protect competitors from using their fabrics. These sorts of decisions are expected to be made by the fashion designer so they should be held accountable for their contribution to global warming and the environmental impact of their consumers.

According to the Brundtland report, sustainability is described as “meeting the needs of the present generation without compromising the ability of future generations to meet their needs”. Sustainable development goals are a set of 17 goals for the world’s future up until 2030. Goal number 6 (clean water and sanitation) is having an impact on fashion sustainability. Put into perspective, 1 shirt uses up 2700 litres of water to produce. This emphasises the consumption on water used up by the textile industry. Additionally, this water is contaminated with microfibres, and chemicals used in production which cannot be reused and ends up being dumped back to its original source, polluting natural habitats and the vital sources of water for populations of people.

Statista 2021 – The fashion industry is currently worth 1.7 trillion

Paddison 2021 – clothing supply chains account for around 8% of all greenhouse gas emissions

The Newsroom 2018 – UK being the biggest consumer of fashion in Europe

Fletcher – “Slow fashion is not a seasonal trend that comes and goes like animal print, but a sustainable fashion movement that is gaining momentum.”

Mogavero 2020 – 1 shirt uses up 2700 litres of water to produce

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Richie Quinn 2

A Favourite Fashion Brand

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Richard Quinn is an emerging designer from Central Saint Martins. He specialises in womenswear and printed textiles and his works has been recognised by Queen Elizabeth. The British designer launched his label in 2016 and in 2018, the queen made an appearance at his show at London fashion week and presented him with the inaugural Queen Elizabeth II Award for British Design.

His most recent collection then payed homage to the Queen’s death by starting the show with 23 all black looks which the team curated in just ten days. 

The main reason in which Richard Quinn is my favourite fashion brand is due to lack in heavy social media marketing much like other large designers and his ability to become so well established purely through his craft and creativity. Quinn’s iconic use of floral patterns clashed with latex and fetishism is what seperates his style from other designers. Additionally, his shows are truly inclusive with features from both models and artists themselves. In his recent shows he has included drag artists  on the runway which is very rare for big name designers.

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