Can the Fashion Business Continue With the Same Old Strategies?
If there were an award for stubbornly clinging to a “business as usual” model, the fashion industry would win without contest. In fact, during a time of deep crisis, there is no sign of change.
We have to admit that working in the fashion industry this month feels stranger than ever for us. Starting a new FW retail season while researching SS25 collections seems particularly surreal. Like living in a fashion bubble disconnected from reality. Indeed, we stay well-informed about current events through our virtual window. Despite the glaring flaws, brands, retailers, and insiders seem trapped in an exploitative and broken system they can neither dismantle nor escape.
Some data points from the fashion system
Just take a look at the fashion magazine headlines or tune into the news – the fashion industry is crumbling:
- In Turkey, 15,000 textile companies filed for bankruptcy in the first seven months of 2024.
- By the end of June, 107 shoe manufacturers in Italy had shut down.
- China’s luxury market is stagnating.
- At London Fashion Week, amid the market slowdown, designers pressed on. “Keep calm and carry on,” as Business of Fashion put it.
- Italy’s footwear and leather goods sectors are in decline.
- Warehouses across the industry are overflowing with unsold goods.
Milano Fashion Week started yesterday, with expectations of economic recovery in the second half of 2025. “The crisis is here, there’s no denying it, but it’s a period of 12-18 months during which the market has slowed down, only to be ready to pick up again afterwards,” says Carlo Capasa. Ok, but how do they actually plan to move forward?
The slowdown, climate emergency & business as usual
The slowdown in the fashion industry is undeniable. Yet, most continue to operate with business as usual. But does it really make sense to approach the fashion business as we always have? What are we trying to achieve by continuing with outdated strategies? Adding more overproduction to an already saturated market, and waiting for the economy to magically recover? Or, are we simply ignoring the problem, living in denial?
This seems to be neither a plan nor a recognition of the urgency of the crisis we’re facing. Climate change and overproduction in the fashion industry with their devastating effects – exploitation of people and the planet, carbon emissions, and massive waste – are part of the same problem.
Amid an existential climate and environmental emergency, it’s glaringly obvious that the fashion industry needs a complete systemic change. But how likely is that when all we see is business as usual?
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