Kaitlyn Humphrys

In today’s global economy the fashion industry is widely considered to be one of the wealthiest industries across the globe. In 2021 the industry made a $1.55 trillion profit and is expected to reach $1.7 trillion by the end of 2022 (Radonic, 2022).

While there are countless companies that circulate the industry several brands evidently dominate the market. According to market research the company LVMH currently stands as one of the biggest establishments within the industry. LVMH is home to countless luxury brands such as Louis Vuitton and Dior. The brand has a market value of $194 billion amongst its brands (Coyne, 2020).

The manufacturing sector of the fashion industry employs 91 thousand people as of 2021 (Smith, 2022). Apparel manufacturing is essential to keep the fashion industry running however it has major flaws that are evoking discussion. Labouring issues within the industry has grown exponentially within past years. In many developing economies employees have poor working conditions, are underpaid, overworked and many are underage. As these issues has become more prevalent and have created issues for brands as many factories in these economies are unregulated. Fast fashion brand Shien is infamous regarding these issues. During an investigation of the corporation, manufacturing employees were found to be paid only 4 cents per garment while working 18-hour shifts (Marthe de Ferrer, 2022).

As the economy becomes increasingly uncertain, brands must find ways to remain relevant. Marketing remains a key factor to economic survival. All businesses goal is to make profit however they must first attract consumers. In recent years online shopping has seen a spike. 27% of consumers do almost all their shopping through online sources (Trevelino, 2021). Ecommerce within the fashion industry is estimated to reach a $672.71 billion value by 2023 (Orendorff and Dopson, 2022). Studies show that 71% of consumers discover brands through digital marketing (Wylie, 2018). Digital marketing is imperative to connect consumers with brands.

It has become increasingly hard for brands to remain creative when gaining profit has become the focus. Chanel is an example of this. While previous creative director Karl Lagerfeld always strived to stay true to the brands roots new creative director Virginie Viard has taken a different approach. New collections have received many critiques from consumers that the brand is focusing more on appealing to the public eye. The quality that the brand provides has not compensated for this moreover. In 2008 Chanel stopped using gold headwear on bags but prices have reached an all-time high. It is inevitable that brands will have to reprioritize their goals in the uncertain economic times.

Sources

Coyne, M. (2020). The World’s Largest Apparel Companies 2020: LVMH On Top While Nike Gains Foothold. Forbes. Available at: https://www.forbes.com/sites/marleycoyne/2020/05/13/the-worlds-largest-apparel-companies-2020-lmvh-on-top-while-nike-gains-foothold/?sh=2bf01bf830ed [Accessed 22 Oct. 2022].

FashionDiscounts (2022). The Most Important Fashion Industry Statistics in 2022. Fashion Discounts. Available at: https://fashiondiscounts.uk/fashion-industry-statistics/#:~:text=How%20much%20is%20the%20fashion.

Marthe de Ferrer (2022). How are Shein hauls making our planet unlivable? euronews. Available at: https://euronews.com/green/2022/10/17/how-are-shein-hauls-making-our-planet-unlivable#:~:text=Infamous%20fast-fashion%20giant%20Shein [Accessed 22 Oct. 2022].

Smith, P. (2018). Number of employees in the apparel manufacturing industry U.S. 2018 | Statista. Statista. Available at: https://www.statista.com/statistics/242729/number-of-employees-in-the-us-apparel-manufacturing-industry/ [Accessed 2 May 2022].

Suhrawardi, R. (2019). The Big Issues Facing Fashion in 2019.  Forbes. Available at: https://www.forbes.com/sites/rebeccasuhrawardi/2019/01/16/the-big-issues-facing-fashion-in-2019/?sh=37681f9a23a9 [Accessed 22 Oct. 2022].

Trevelino, D. (2021). Council Post: The Power Of Marketing To Drive Consumer Behavior. Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2021/01/27/the-power-of-marketing-to-drive-consumer-behavior/?sh=6b5528dd27f9 [Accessed 23 Oct. 2022].

Wylie, C. (2018). Consumers prefer to discover brands than be subject to advertising. Marketing Week. Available at: https://www.marketingweek.com/consumers-do-not-trust-traditional-advertising-channels/.

Humankind lives in an immensely diverse world; no two people are the same. Gen Z is among the nations most populated generations thus making Gen Z one of the most diverse generations to date. Gen Z is not only the most diverse generation but a generation that embraces diversity. Over 50% of Gen Z is part of a minority group (IZEA, 2021). Gen Z is striving for brands to take action and embrace diversity just as they have.

In terms of purchasing habits, Gen Z tends to be one of the most educated generations. Gen Z is the most likely generation to base their purchases on how well a brand addresses diversity and inclusion (IZEA, 2021). Studies show that 83% of Gen Z consumer are more likely to purchase from brands that produce campaigns with diverse groups of people (McKinney, 2020).

Gen Z is heavily influenced by social media, the generation was exposed to the digital world from an early age and as a result this has impacted their purchasing habits. Approximately 97% of Gen Z uses social media to discover and educate themselves about new brands and products (Kastenholz, 2021). As a result, companies are forced to transform and become more authentic to meet the demands of this generation.

Diversification has become a major priority for numerus brands over the past decade. In September 2017 Rihanna redefined the beauty industry by launching her brand Fenty Beauty. With an extensive 50 shade range to match almost any skin tone, Fenty Beauty has become one of the most inclusive makeup brands to date. Nevertheless, Rihanna more was concerned about representation and equality than the actual foundations. Efforts were made by Fenty Beauty to address the lack of representation of women of color in the beauty industry. In addition, they strived to highlight that there should be representation for all skin tones, lights or dark.

In contrast to previous generations, Gen Z is more concerned about making the world a better place. When it comes to attracting Gen Z consumers, brands must first understand the importance of authenticity. This generation wants brands to educate them about the brand and then allow them to form their own opinions. Using influencers to appeal to Gen Z can be very effective. In order to attract the right Gen Z consumers, brands can use influences that correlate with their brand values. As the generation becomes more prominent, it is inevitable that brands will have to become truly authentic to attract Gen Z.

References

Fetto, F. (2020). How Fenty Beauty Changed the State of Play in the Industry. British Vogue. Available at: https://www.vogue.co.uk/beauty/article/rihanna-fenty-beauty-diversity.

Francis, T. and Hoefel, F. (2018). True Gen: Generation Z and Its Implications for Companies. McKinsey & Company. Available at: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies.

IZEA (2021). Why Gen Z Values Diversity. IZEA. Available at: https://izea.com/resources/gen-z-values-diversity/.

Kastenholz, C. (2021). Council Post: Gen Z and the Rise of Social Commerce. Forbes. Available at: https://www.forbes.com/sites/forbesagencycouncil/2021/05/17/gen-z-and-the-rise-of-social-commerce/?sh=65fc0427251d

Oliver, M. (2021). How Diversity and Inclusion Affect Shopper Attitudes How Diversity and Inclusion Affect Shopper Attitudes. Available at: https://digitalcommons.lindenwood.edu/cgi/viewcontent.cgi?article=1004&context=theses

Russo, G. (2019). The Most Inclusive Fashion and Beauty Moments of the Decade. Teen Vogue. Available at: https://www.teenvogue.com/story/most-inclusive-fashion-and-beauty-moments-of-the-decade.

The fashion industry has largely been known as one of the biggest polluters on the planet. As environmental concerns have become more significant in recent years the fashion industry has received an immense amount criticism due to its negative impact on the environment. Approximately 10% of humanity’s carbon emissions come from fashion production. As a result, major environmental damage is caused to the planet, such as the drying up of water sources, and the pollution of rivers and streams. On average, 85% of textiles produced every year are disposed of in landfills. (UNECE, 2018).  There is evidently a need for change within the fashion industry.

Fashion production relies heavily on resources that are non-renewable, these include chemicals, oils, and fertilisers which all contribute significantly to pollution. In 2018 the United Nations and scientists declared that humanity has 12 years to make amends to the planet before the climate crisis becomes irreversible. (United Nations, 2018).  Circular economies are one of the ways which the fashion industry is working on implementing to become more sustainable. Circular economy is a system that was invented to help eliminate waste and pollution. In a circular economy products are designed with the notion of being reused. Products are utilized for as long as possible, they are recycled and repurposed in effort to minimize waste. When a circular economy is correctly implemented carbon emission and loss of resources will significantly be reduced. Through research professionals have proven that to reach sustainability goals by 2030 over 20 percent of garments much be traded through a circular economy. (Magnus, 2021)

The SDGs are a set of 17 goals produced by the United Nations in 2015 these goals provide an outline that will guide humanity in achieving an improved planet. The 12^th SDG is sustainable consumption and production, this goal strives to eliminate unnecessary waste that has damaging effects on the planet. It has been a priority for Levi’s to implement this goal and stop overconsumption. With the shift to a circular economy, Levi’s has moved away from the traditional take-make-waste model. As part of its commitment to the circular economy, Levi’s launched a denim line entirely made from discarded denim. 

Currently it is more crucial than ever for the fashion industry to become more sustainable. Without change damage on our planet will become irreversible. Fashion sustainability involves developing new methods and resources that will not pollute the planet.  

Resources

Geneva Environment Network (2021). Environmental Sustainability in the Fashion Industry. www.genevaenvironmentnetwork.org. Available at: https://www.genevaenvironmentnetwork.org/resources/updates/sustainable-fashion/.

Lee, L. and Magnus, K.-H. (2021). A More Circular Fashion Industry Will Require a Collective Effort. The Business of Fashion. Available at: https://www.businessoffashion.com/opinions/sustainability/a-more-circular-fashion-industry-will-require-a-collective-effort/.

Pignard, Q. (2019). Moving Towards a Circular Fashion Economy. Motif. Available at: https://motif.org/news/circular-fashion-economy/.

UNECE (2018). Fashion and the SDGs: what role for the UN? The fashion industry in numbers. Available at: https://unece.org/fileadmin/DAM/RCM_Website/RFSD_2018_Side_event_sustainable_fashion.pdf.

United Nations (2022). UN climate report: It’s ‘now or never’ to limit global warming to 1.5 degrees. UN News. Available at: https://news.un.org/en/story/2022/04/1115452.

United Nations (n.d.). Goal 12 | Department of Economic and Social Affairs. sdgs.un.org. Available at: https://sdgs.un.org/goals/goal12.

Inspired by femininity and vintage fashion Love Shack Fancy is taking the fashion industry by storm. The brand was founded in 2013 by former Creative Director of Seventeen magazine Rebecca Cohen. Rebecca’s idea for the brand came about after noticing a gap in the market while she was searching for the perfect bridesmaid’s dresses for her own wedding. Having been unable to find dresses that matched her exact vision, Cohen decided to design her own. In no time at all, the brand began to take off.  Within the first year of the brand’s launch, Cohen partnered with Gwyneth Paltrow and her brand Goop as well as Julia Roitfeld and her brand Romy and the Bunnies.

As opposed to many leading brands in the industry which are trend focused Love Shack Fancy appeals to its consumers in a unique way. The brand provides a unique point of view that does not encourage consumers into purchasing seasonal pieces, instead the brand draws on influence of vintage inspired pieces that will stand the test of time. “I like to think that Love Shack Fancy is a brand that’s an investment, it can be passed on for generations – to your daughters, friends, I want every dress to tell a story.” (Choen, 2019)

In most of its history, Love Shack Fancy has focused exclusively on consumers between the ages of 25 and 40 years old. However, with the rapid rise of TikTok Love Shack Fancy has become extremely popular with gen Z consumers. Notably the brand has become most popular throughout sorority recruitments in Alabama known as “rush” which became a viral sensation on TikTok within past years. Love Shack Fancy has seen a turn in sales with now over 50% coming from gen Z consumers. 

Since Love Shack Fancy’s viral sensation on TikTok the brand has begun to evolve to cater to its new demographic, LSF have taken advantage of its new popularity with gen Z and students. Their most recent efforts include their new special accessories vending machines that can be found in universities across the United States.

Growing up in the age of social media and the rapid rise of fashion trends, I was constantly teased for not being cool or being too girly, and I concealed that aspect of myself through my teenage years. To me Love Shack Fancy is a brand unlike many others. It has given me an outlet to express and not be ashamed of my femininity.