Francesca Kurdi

Profit, according to the Cambridge dictionary, is “the good result or advantage that can be achieved by a particular action of activity.” In terms of fashion business, profit concerts money that is earned, as fashion is a consumerist industry, which is essentially focused on striving for financial success. This is because the current state of society is a capitalist economy, an “economic system that which uses ‘capital’: financial, human, and planetary (land) resources to produce goods and services to supply the demand of consumers.” (Buchan, 2022). However, in the future, the success of businesses should no longer be measured solely by traditional financial metrics, but by also taking into account the planet and the well-being of employees.

What is the size of the fashion industry?

The size fashion industry is monumental, and if it were to be “ranked alongside individual countries’ GDP the global fashion industry would represent the seventh-largest economy in the world,” (McKinsey, 2017). This shows the vast extent of the fashion and textile industry is a significant driver of the global economy, and is worth £2tn ($1.5tn) and, in the UK alone, brings more than £30bn a year in revenues.

The graph below shows the vast amount of financial income from some of the biggest brands, showing the large extent of money just one fashion company can produce in a year.

How are the various sectors of the industry performing?

All industries can be divided into four sectors; primary, secondary, tertiary and quaternary. In the fashion industry, the primary sector is concerned with the extraction of raw materials and natural resources, the secondary sector concerns design and production, the tertiary sector includes any services for other people post-production, such as retail and marketing, and the final sector, the quaternary sector consists of research and development.

The primary and secondary sectors of fashion are currently focused on the rapid extraction and accelerated production of clothing, to keep up with the speed of fast fashion cycles. Although fast fashion has a huge economic impact, as it is “responsible for the recent growth (on average 4.78%) and future growth (5.91% in the next three years) of the apparel industry.” (Assoune, 2021)

Currently, the tertiary sector of the fashion industry, retail, is making major changes and the surge of “social shopping” and e-commerce has begun. This is seen as in the State of Fashion 2022 it was found that “in the US alone, annual sales through social commerce are expected to surge from approximately $37 billion in 2021 to $56 billion in 2023” (McKinsey, 2021)

The research and development sector of the fashion industry is making unbelievable advantages concerning sustainability, triggered by the sense of urgency to make changes seen at COP26. One example of these scientific findings is the Adidas X Stella McCartney bio fabric tennis dress created with vegan spider-style silk from Bolt Threads which is fully biodegradable. These advances in fashion technology are why “60% of fashion executives have already invested or plan to invest in closed-loop recycling next year” (McKinsey, 2022)

How can a brand remain competitive in uncertain economic times?

Fashion brands can remain competitive through the effective use of social media platforms as successful marketing to capture their consumers’ attention.

With social media, the speed of information is now immediate. Consumers can instantly watch live streams, listen to commentary and get updates from recent shows and trends. This increased exposure allows brands to create more trend cycles per year and sell more clothing, increasing profit.

As previously mentioned the primary consumer base for fashion concerns Gen-Z and millennials, these consumer groups are focused on ethical fashion, so companies can use their social media platforms to promote sustainibility on their platform to attract these consumers. This effect is seen in a 2011 Pew survey it was found that millennials are more likely to pay more money for “responsibly made products.” (Pew, 2011), resulting in more profit.

How do creative directors bridge the gap between creativity and commerce?

Fashion can be seen as an art form, and as an industry that is constantly undergoing artification. A prominent bridge between creativity and commerce is runway shows. Runway shows have changed from pure garment presentations to immersive art installations that show pure creativity. This is seen in Balenciaga’s Spring 2023 Ready-to-Wear collection runway which included a 4D experience including models walking through mud, unsettling music and all guests being sprayed with a bad scent. It can be interpreted that the “post-apocalyptic show” (Phelps, 2022) was to display themes concerning “Rising inequality, the return of fascism, the very real threat of nuclear war” and “to shake us awake”. (Phelps, 2022). This displays that runways are not only to display clothing for commerce but to be controversial and raise awareness for current world circumstances, which is commonly seen in the art world.

Fashion can also be linked to music, many musical artists have clothing brands to help create an atmosphere for their music. This is seen at Loyle Carner’s pop-up shop in London on the 22nd of October 2022, where exclusive merchandise was being sold and he was singing to raise hype in both the music and the art world (add my images when doing portfolio).

Russon, M.-A. (2020). Global fashion industry facing a ‘nightmare’. BBC News . [online] 14 Feb. Available at: https://www.bbc.co.uk/news/business-51500682.

Fashion United (2022). Global Fashion Industry Statistics . [online] fashionunited.com. Available at: https://fashionunited.com/global-fashion-industry-statistics.

BBC Bitesize. (n.d.). Sectors of economy – Role of business in society – Higher Business management Revision . [online] Available at: https://www.bbc.co.uk/bitesize/guides/zmx47nb/revision/3.

Assoune, A. (2020). How Does Fast Fashion Affect The Economy . [online] Panaprium. Available at: https://www.panaprium.com/blogs/i/how-does-fast-fashion-affect-the-economy.

Block, I. (2019). Lab-grown spider silk used for Adidas x Stella McCartney biodegradable dress . [online] Dezeen. Available at: https://www.dezeen.com/2019/07/31/biofabric-tennis-dress-adidas-stella-mccartney-bolt-threads-microsilk/.

Hethorn, J., & Ulasewicz, C. (Eds.). (2015). Chapter 4-social media as a tool for social change Pages: 76–99 Kaplan, A. & Haenlein, M. (2010). Users of the world, unite! The challenges and opportunities of Social Media. Business Horizons

Hethorn, J., & Ulasewicz, C. (Eds.). (2015). Chapter 9-Economic impact of textile and clothing recycling Pages: 204–230

Rocamora, A. & Entwistle, J. (2006) “The Field of Fashion Materialised: A Study of London Fashion Week” in Sociology Volume 40(4): 735–751

Nast, C. (2022). Balenciaga Spring 2023 Ready-to-Wear Collection . [online] Vogue. Available at: https://www.vogue.com/fashion-shows/spring-2023-ready-to-wear/balenciaga.

www.youtube.com. (n.d.). Balenciaga Spring/Summer 2023 Paris. [online] Available at: https://www.youtube.com/watch?v=SY_SSqXQVDQ [Accessed 23 Oct. 2022].

People are the focal point of every organisation, including fashion and textile businesses, as they influence every part of it. People do not only make up for employee structure but also the consumer base, along with the wider society which significantly influences how organisations function. Diversity, inclusion, collaboration, communication and community relations are all fundamentals needed in a successful business, surrounded by a healthy society.

Gen-Z consumers

Gen Z, aged 18-26 (Moran, 2022), are a prominent set of consumers who are changing how fashion is consumed and paving new pathways of activism in society. There are two major patterns in which these consumers operate; the interconnectedness of their lives with technology and their palpable drive to stand up for what matters. Drapers produced their annual consumer research report in 2022 to help the fashion and retail industry to interpret “this difficult-to-define, yet all-important set of consumers.” A survey was completed by 2,000 consumers in which the data was analysed to find consumer patterns. A large sample of 2,000 ensures there is a large level of generalisability of the findings.

Gen-Z – “Digital Natives” (Moran, 2022)

Drapers’ report found that Gen-Z differs substantially from the generations before them as they are the first set of consumers to grow up surrounded by technology and the internet, which not only alters the way they consume products but the way they behave on a day-to-day basis. In particular, trends surrounding online retail and the metaverse were found by Draper’s consumer researchers.

Concerning the metaverse, it was found that Gen-Z are “demonstrably more aware of”(Moran, 2022) and open to this online community and the “new technologies that contribute to it.” Only 39.5% of millennials are familiar with the meta-verse, as opposed to 61.6% of Gen-Z. This level of awareness and open-mindedness is likely to be a result of the vast amount of knowledge and opinions from around the world that Gen-Z can access online.

Secondly, Gen-Z were found to prefer online retail to the in-store shopping experience. This effect was accelerated following Coronavirus and Drapers found that 71% of Gen-Z either shop more than, or at the same level, as they did before the pandemic, online rather than in-store. It was found that this online preference was because 32.7% of Gen-Z find online retail “relaxing”, or 39.5% found it “fun”.

Gen-Z – ‘I’m powered by the fact I have no other choice’, (Carnegie, 2022) a generation of activists

As previously discussed, Gen-Z has grown up surrounded by technology, and therefore the whole world at their fingertips. Born between 1995 and 2010, Gen-Z has lived through boundless challenges, unlike any other generation has. These tests include climate change, Coronavirus, political uproar, and economic distress which resulted in the anger of many Gen-Z concerning the inequalities and injustices of society. This anger, paired with technology, has mobilised Gen-Z to have a “louder voice than ever” (Carnegie, 2022) to advocate for political and social change. Digital spaces allow Gen Zers to establish their “civic identities” (Carnegie, 2022) and make positive changes in a way no other generation has been able to. An example of the positive use of an online platform is the sharing and signing of government petitions concerning the BLM movement following the murder of George Flloyd in 2020.

Consider what a brand should do to attract Gen-Z consumers

With the key values of Gen-Z in mind, a brand needs to have a diverse community of both employees and consumers, as this generation is in the constant battle for social equality. Fashion businesses must represent all ethnicities, ages, sexual orientations and bodies and avoid diversity washing to ensure an ethical business that attracts Gen-Z.

The history of eurocentric marketing

For most of Western history, marketing has been Eurocentric, creating a dominant culture that focuses on the white, European aesthetic. However, supported by the activism of Gen-Z, this needs to change and it is crucial that there is an equal representation of all people in fashion and the arts to ensure that everyone feels welcomed into society and represented in the media in a positive light. The planet is diverse, so it can be heavily criticised that media and marketing are not.

Fenty’s positive response to diversity

One brand that has been changing the nature of marketing, concerning diversity, is Fenty Beauty by Rihanna. Many makeup brands are focused on caucasian, white shades of makeup which is uninclusive and Eurocentric. Fenty changed this with a 40-strong foundation range, that has since expanded to 50. The concept that “if you don’t fit an age-old Eurocentric ideal of beauty, you are not welcome”(Fetto, 2020) – was an elephant of the beauty industry, and Fenty was not only successful in addressing this but opening up thousands of conversations that needed to occur. Fentys’ slogan “Beauty for all” allowed people of all genders, races, and ethnicities to feel beautiful and unapologetically themselves.

What are the key people skills needed for a fashion brand to be successful?

Emotional Intelligence is “recognizing our own feelings and those of others, motivating ourselves, managing emotions well in ourselves and in our relationships.” (Goleman, 1998) It is essential to have high emotional intelligence in fashion business, shown below:

Carnegie, M. (2022). Gen Z: How young people are changing activism. [online] www.bbc.com. Available at: https://www.bbc.com/worklife/article/20220803-gen-z-how-young-people-are-changing-activism

Fetto, F. (2020). How Fenty Beauty Changed The State Of Play In The Industry . [online] British Vogue. Available at: https://www.vogue.co.uk/beauty/article/rihanna-fenty-beauty-diversity

Moran, G. (2022) Drapers, Gen Z and Millennials 2022

www.youtube.com. (n.d.). How Rihanna’s Fenty Beauty delivered a wake-up call to the industry. [online] Available at: https://www.youtube.com/watch?v=ubHt-vmIqhg&t=3s [Accessed 16 Oct. 2022].

Hootsuite.com. (2022). [online] Available at: https://blog.hootsuite.com/wp-content/uploads/2022/08/gen-z-statistics-2.png [Accessed 16 Oct. 2022]

Kotn is a Canada based brand that states they are “On a mission to change how things are made. Better for the people, better for the planet.”

This is seen as they are a Certified B Corp that uses multiple revolutionary techniques to ensure minimal harm to the planet, these include, plastic-free packaging and OEKO-TEX certified nontoxic dyes. Kotn also ensures a positive effect on the planet and those who closely along beside it, such as the 2,390 smallholder farmers in the Nile Delta and Faiyum regions of Egypt. Through these positive collaborations it has enabled Kotn to gain an intimate understanding of these communities and their ecosystems needs and wants. One technique used to ensure both the agricultural and farmers of their brand is healthy, Kotn ensures that when market conditions are difficult farmers are provided with, up to 30%, subsides so they can afford environmentally safe fertiliser, rather than cheaper, environmentally detrimental fertilzliers and chemicals.

Concerning materials, Kotn also is successful in reducing micro-plastics leached from synthetic materials as they we focus on the finest natural fibres, which can biodegrade at the end of their life cycle. They have a range of preferred fibres and materials that are ecologically and socially progressive to align with global sustainability standards and their fibres are are made from utilising low-waste cutting methods and up-cycling leftover materials to using OEKO-TEX® certified non-toxic dyes.

Kotn strives for a steady profit as their mechanise is focused around excellent quality basics, that are very long lasting and can be worn throughout the whole year. They market their clothes to a foward thinking consumer who is conscious of their buying habits and contribute to a capsule wardrobe of many millennials.

Kotn are one of my favourite brands, firstly, because they visually focus on good quality basics with unique silhouettes and timeless pieces, which is important for me as I am trying to steer towards a more capsule, long lasting wardrobe. In particular, I love Kotn’s fall collection which includes a range of red and brown shades that can we worn every Autumn. Secondly, the collaboration with the Middle Eastern farmers and ecosystem is very important to me, coming from a Jordanian background.