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Since the 1990s, fastfashion has enabled everyday people to buy the latest catwalk trends. Now, just when the fashion industry should be waking up and breaking free of this vicious cycle, it’s heading in the opposite direction. We’re on a downward spiral, from fastfashion to ultra-fastfashion.
Resale — the segment of the secondhand market that ThredUP defines as offerings with more curated assortments — is expected to account for more than half of that total, $47 billion , by 2025. Growing Sustainability Concerns Favor Resale Over FastFashion. Fastfashion and thrift are very similar in a lot of ways,” said Clark.
Let’s look closer at how these companies, currently trading at 30 per cent plus growth rates, are reshaping the retail landscape: 1. Amazon’s $6 billion in annual sales in Australia accounts for nearly 10 per cent of all online retail spending in non-food categories, placing it among the top five non-food retailers in the country.
She described Instagram accounts of Costco hauls, including those looking at dupes of iconic Lululemon products such as a zip hoodie and finding they are of comparable (if not exact) quality. I think that high fashion has priced itself out. Higher prices for real items have been accompanied by higher quality for dupes.
We conducted in-depth interviews with 21 women who buy “fastfashion” – “on-trend” clothing made and sold at very low cost – to find out how much they think about the conditions of the workers who make their clothes, and and what effort they take to avoid slave-free clothing. Read the original article.
Last November, international fashion resale platform Vestiare Collective shocked the apparel industry by banning the trade of ‘fast-fashion’ labels. Wone, who joined Vestiaire Collective in March 2020, said the ban underlines Vestiaire Collective’s founding mission – to drive collective change towards a circular fashion economy.
The value of luxury and premium fashion goods is often in their design, storytelling and product quality. But recently, fast-fashion brands including Zara, H&M, Mango, Urban Outfitters and Topshop have been testing limited-run premium collections in addition to their regular and frequent product drops.
At the same time, the rental and fastfashion sectors are expected to remain relatively flat, and department stores, value chains and mid-priced specialty retail will lose ground. When I started working at the company about 10 years ago, businesses like ThredUP were the vanguard for resale,” he recounted. “The
“It’s brutal out there, it’s really hard,” said Erik Lautier, e-commerce expert at consultancy AlixPartners. ” Paid search ads can drive anywhere from 15 per cent to 30 per cent or more of a retailer’s online sales, and account for as much as half of the marketing budget, Lautier said.
With Zara-owner Inditex and H&M set to disclose their most recent sales results, investors will be focused on one major question: how are the two fast-fashion pioneers responding to the current market leader, Shein? Shein accounted for nearly one-fifth of the global fast-fashion market in 2022, outpacing Zara and H&M.
For decades, there have been continued debates surrounding sustainability and the fashion industry’s position in implementing and maintaining a sustainable value chain, where renewable resources from the environment can be continually used and human rights are protected. Shifting Attitudes Across the Industry.
Even in an industry accustomed to a rapid pace of change like fashion manufacturing and retailing, AI is racing by like the Road Runner speeding past a desert mesa. Weve been learning more about what categories we can execute at what price point. That makes things both challenging and exciting for early AI adopters.
This year saw the proposal of the Fashion Sustainability and Social Accountability Act. Here, we look at some of the initiatives — transparent sourcing, greater demand forecasting, recommerce and sustainable packaging — retailers are using to be more sustainable. Kimberly Morgan is VP Sales and Global Partner Channel Lead at K3.
Consumers are also pushing for brands to step away from “fastfashion” trends and promote sustainability in both product development and manufacturing, making efforts to reduce or offset their carbon footprints. Tackle your supply chain one vendor at a time. You don’t have to overhaul your entire supply chain overnight.
UK-based fastfashion retailer In The Style is understood to have been bought out of administration. Accounting firm FTS Recovery was taken on as administrator of the struggling fashion brand on 10 March. In March 2023, the company, which was once valued at 100m, was sold to Baaj Capital for just over 1m.
However, this marketing spend came at the expense of profitability, with some estimates showing that Temu loses an average of $30 for every order placed. While Amazon might offer a discount to all customers, Shein and Temu treat sales and coupons as gated assets, with discounts typically only available for shoppers who open an account.
An American freelance artist has sued Chinese fast-fashion retailer Shein for US$100 million, alleging the company copied her artwork without permission. According to the court filing, Shein offers the hanging in two sizes – 30×40 and 39×60 – at prices starting from $4.
Global emissions from transportation account for approximately 16%, and plastics 4%, of total greenhouse gas emissions. These struggles to improve manufacturing processes are most visible in the textiles industry given the “fastfashion” trend — rapidly producing large volumes of inexpensive garments designed to capitalize on style trends.
For example, 60% of customers say they would be willing to pay more for a product with sustainable packaging, so it is paramount that businesses stay with the times and account for these shifting consumer preferences. Joseph Schlossberg is a VP of Global Sales at Sourcing Solutions International.
Fast-fashion retailer H& M announced plans to close approximately 250 stores next year as it seeks to step up the pace of its transformation via digital investments, store portfolio optimization and increasingly integrated channels. H&M has not yet identified which stores will be shuttered.
Amid the rise of fastfashion and social media platforms accelerating consumptive behaviour, it appears that many Australians aren’t wearing or re-wearing the clothes they purchase. This was highlighted by the Fashion Resale Report from online retailer Reluv and Monash University. Consumer behaviours will also inevitably change.
The fashion industry has long found itself in a race to be the fastest. But increasingly, next-day and same-day delivery are being pushed to move at a rapid pace. The offer is also seen as an expansion of the business’ successful click-and-collect offer, launched last year, which now accounts for up to 20 per cent of online orders.
Alder & Green , the ethical menswear brand, has unveiled its new flagship London store at a ribbon-cutting event hosted by Olympic rower and brand ambassador, Tom George. Quality is at the heart of all Alder & Green products. We had a pop-up before Christmas directly opposite our new store so we already feel at home.
Analysts have estimated the company’s valuation at $15 billion, with annual revenue of at least $5 billion. Over the past 18 months, privately-held Shein, whose official name is Zoetop Business Co, has taken the fast-fashion world by storm. Low prices, lack of transparency.
So perhaps its not surprising that the dominating talk among retail executives at Shoptalk this week has revolved around what exactly consumers want and need right now. In fact, AI was held at a pleasant distance at the annual retail conference, which kicked off Tuesday in Las Vegas. One thing is clear its not AI.
At the time, it described itself as “the essence of privilege and casual luxury”, with a product offer focused on ‘all-American’ premium casualwear. Long-time CEO Michael Jeffries was ousted from A&F at the end of 2014, and was eventually succeeded by Fran Horowitz in 2017. Abandonment of sexualised marketing.
Since the fastfashion brand first launched on Tmall in China in 2018, it has continued to embrace third-party marketplaces in the broader region, including Myntra in India and Zalora in Southeast Asia. “I At the heart of H&M’s partnership with Zalora is a shared focus on sustainability.
The rapid rise of fast-fashion e-commerce retailers such as Shein and Temu is upending the global air cargo industry, as they increasingly vie for limited air-cargo space to woo consumers with rapid transit times, more than ten industry sources said.
Despite the controversies, the fast-fashion brand has been named one of Gen Z’s favorite brands and one of the fashion industry’s most popular brands. SHEIN’s incredible reach, amplified through influencers, and its focus on creating on-trend items at an extremely rapid pace can be thanked for that.
However, there are some indicators that point to light at the end of the tunnel. As consumer behavior changes due to rules that dictate “shelter in place” and social distancing, retailers can adapt and meet customers where they are right now: most likely, at home. Loyal customers are returning and increasing average order values (AOV).
The Chinese fastfashion giant may be one of the most downloaded fashion apps around the world, but it continues to maintain a low corporate profile. Ask any consumer to name a fastfashion retailer and they probably think of H&M, Zara or Gap. Fastfashion, but slow deliveries.
UK-based fastfashion brand Boohoo recently announced that it had tapped US celebrity and influencer Kourtney Kardashian as its “sustainability ambassador” and launched a “sustainability journey” campaign that included a capsule collection and mini-series. “A spoiler alert for everyone: you can’t.
AC: Everyone can benefit at some point from medical grade compression. Not all sports compression is created equal, but at SA1NT Layers we want to take the guesswork away, with industry leading technology and fabric. Can you discuss why you’ve decided to invest in, and focus on, this particular category?
Valued at US$100 billion ($150 billion) , fastfashion brand Shein is in hot water after a recent Channel 4 documentary hosted by British journalist Iman Amrani, Inside The Shein Machine , lifted the veil of secrecy behind the corporation’s operations in China. The next step. A race to the bottom.
We’ve done assessments across the whole business to identify the areas where products are unsellable, and we’re looking at those streams to identify how we can reinvest back into the product to see if we can make it into something that customers want,” O’Loughlin said. We know that we have a responsibility.
Sustainability has become a top priority for investors and consumers concerned about the looming climate crisis – and the fashion industry, one of the leading creators of global emissions, is increasingly focused on portraying its green cred. “Investigate how a group is cutting its emissions,” Cummins told Reuters.
“I think what we’re seeing happen is that people are on mobile, and they’re showing indications of how that behavior is changing with the burden of inflation hitting their wallets,” said Lexi Sydow, Head of Insights at data.ai in an interview with Retail TouchPoints. Mobile Retailing Requires a ‘Mindset Shift’.
Much of the growth in resale, also referred to as “recommerce,” is driven by fashionat the moment, although other categories such as electronics , homewares and furniture also are making huge gains. Coresight expects fashion resale to grow at twice the rate of the total U.S. fashion market this year alone.
But, he said the event’s success can only be determined at the end of the Christmas trading quarter. “We Robert Moore, CEO of leather goods and accessories brand Mon, said that the brand saw 100 per cent growth in November compared to the month prior, and that Black Friday and Cyber Monday accounted for over 40 per cent of monthly sales.
PrettyLittleThing founder Umar Kamani is returning to the fastfashion retailer as he vows to make the brand special again. Though in recent years, its profits have waned amid the cost-of-living crisis, inflation and fierce competition from the likes of fastfashion giant Shein.
Fast-forward to 2022, and thrifting is still about finding unique pieces, in addition to caring for the planet and making money on the side. In 2021, the global resale clothing market was valued at US$96 billion. This doesn’t mean creating a TikTok account because everyone is creating TikToks. Reduce, reuse, resell.
They head a growing list of retail brands which have already announced actions to end or reduce sales in Russia, including Swedish fast-fashion company H&M, online apparel store Asos, and tech giant Apple. Russia accounted for about 4 per cent of H&M’s sales during the last quarter, making it the group’s sixth-largest market.
The Fashion Sustainability and Social Accountability Act (or Fashion Act) would apply to global apparel and footwear retailers and manufacturers with annual revenues of more than US$100 million that do business in New York.
Last year’s must-have dress, yesterday’s flares and countless other Western castoffs are strangling the Global South, prompting calls for fastfashion to pay the price for rampant overproduction. Noi said the market generates at least 100 tonnes of fabric waste daily, while city trash trucks can only carry 30 tonnes.
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