Does competition among the fashion industry slow it down, or help it thrive? Competition has always been a given in the fashion industry. Every designer strives to be the next Karl Lagerfeld or Cristobal Balenciaga. But when is enough, enough? Despite innovative changes in the industry, unsustainable practices can still be prevalent.
The apparel industry’s approach is shifting. As a result, open letters published by those such as Dries Van Noten, the Council of Fashion Designers of America and British Fashion Council are calling for change, with a hope to drive industry-wide collaboration and information sharing for widespread gain. A few of the requests include:
Lessen Inventory
A shift in delivery cadence
Designers focus on no more than 2 collections per year
Sustainability as a game-changer
But which of these are holding steady?
Sustainability is still taking the world by storm. If a brand is not producing sustainably, consumers are beginning to switch brand preferences. With the upcoming launch of the Digital Product Passport in the EU, legislation is requiring certain traceability features in garments. “Brands and manufacturers may consider revamping business models to align with the changes ahead”(State of Fashion 2024). The transition into a more circular apparel world means understanding where a garment has come from and where it will ultimately end up. Digital Product Passports are meant to enhance our knowledge of a product's life-cycle, thus altering certain business practices and increase accountability for all.
According to the State of Fashion 2024, “Fast-fashion competition is set to be fiercer than ever. Challengers, led by Shein and Temu, are bringing new tactics on price, customer experience, and speed.” Which poses the question, how can this same fashion rivalry and momentum be maintained long-term? Regardless, we are going to have to move the needle to make room for sustainable practices of all types, be it environmentally-related or battling overproduction and burnout.
In this new world, it is not about who crosses the finish line first, but who continues to be held accountable for making positive strides amongst their competitors.