View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Analysis
November 29, 2021updated 27 Jan 2022 11:37am

Filings buzz in fashion: 61% increase in digitalisation mentions in Q2 of 2021

Mentions of digitalisation within the filings of companies in the fashion industry rose 61% between the first and second quarters of 2021, according to GlobalData.

By Andrew Hillman

In total, the frequency of sentences related to digitalisation in the fashion industry between July 2020 and June 2021 was 519% higher than in 2016 when GlobalData, from whom our data for this article is taken, first began to track the key issues referred to in company filings.

Free Whitepaper
img

Internet’s Next Revolution: Can Web 3.0 Unlock Decentralized and Intelligent Internet?

Big tech companies have created massive ecosystems that offer the internet’s key services, making it impossible for users to break from their “walled garden” and ultimately surrender control of their data. A sharp rise in public awareness about data privacy and the value of their data has stimulated new awareness around web 3.0 networks. Web 3.0 is the third iteration of the internet, designed by token-based economics to wrest the control of user data from big tech companies and provide a user-centric internet. It creates a mesh of peer-to-peer communication and decentralized governance structures to enable individuals and organizations to tackle data privacy and censorship threats. Reasons to read: An increasing number of startups and tech players are shifting gears to create blockchain-powered decentralized ecosystems for different sector-specific applications and services. Against this backdrop, businesses need more awareness of the fast-paced fundamental restructuring of the internet. The report highlights the current state of play and the future potential of web 3.0 networks in driving decentralized and user-controlled internet. This is anticipated to unlock new possibilities for enterprises across sectors such as financial services, gaming, sports, media & entertainment, retail, and technology, among others. Read our report and gather insights on the following topics:
  • Evolution of the internet
  • Active players in the web 3.0 ecosystem
  • Key applications by major sectors
  • Driver and challenges
  • Top startups and Mergers & Acquisitions
  • Regulatory landscape & future scope
by GlobalData
Enter your details here to receive your free Whitepaper.

When fashion and accessories companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Digitalization is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.

To assess whether digitalization is featuring more in the summaries and strategies of fashion and accessories companies, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned digitalization at least once in filings during the past twelve months - this was 96% compared to 79% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to digitalization.

Of the 10 biggest employers in the fashion industry, VF Corp was the company which referred to digitalization the most between July 2020 and June 2021. GlobalData identified 975 digitalization-related sentences in the United States-based company's filings - 1.5% of all sentences. Wacoal Holdings Corp mentioned digitalization the second most - the issue was referred to in 1.1% of sentences in the company's filings. Other top employers with high digitalization mentions included Christian Dior SE, LVMH Moet Hennessy Louis Vuitton SE and Hermes International SA.

Across all fashion and accessories companies the filing published in the second quarter of 2021 which exhibited the greatest focus on digitalization came from VF Corp. Of the document's 2,136 sentences, 23 (1.1%) referred to digitalization.

This analysis provides an approximate indication of which companies are focusing on digitalization and how important the issue is considered within the fashion industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning digitalization more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into digitalization have been successes or failures.

In the last quarter, fashion and accessories companies based in the United States were most likely to mention digitalization with 1.24% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Western Europe mentioned digitalization in just 0.73% of sentences.

Related Companies

Free Whitepaper
img

Internet’s Next Revolution: Can Web 3.0 Unlock Decentralized and Intelligent Internet?

Big tech companies have created massive ecosystems that offer the internet’s key services, making it impossible for users to break from their “walled garden” and ultimately surrender control of their data. A sharp rise in public awareness about data privacy and the value of their data has stimulated new awareness around web 3.0 networks. Web 3.0 is the third iteration of the internet, designed by token-based economics to wrest the control of user data from big tech companies and provide a user-centric internet. It creates a mesh of peer-to-peer communication and decentralized governance structures to enable individuals and organizations to tackle data privacy and censorship threats. Reasons to read: An increasing number of startups and tech players are shifting gears to create blockchain-powered decentralized ecosystems for different sector-specific applications and services. Against this backdrop, businesses need more awareness of the fast-paced fundamental restructuring of the internet. The report highlights the current state of play and the future potential of web 3.0 networks in driving decentralized and user-controlled internet. This is anticipated to unlock new possibilities for enterprises across sectors such as financial services, gaming, sports, media & entertainment, retail, and technology, among others. Read our report and gather insights on the following topics:
  • Evolution of the internet
  • Active players in the web 3.0 ecosystem
  • Key applications by major sectors
  • Driver and challenges
  • Top startups and Mergers & Acquisitions
  • Regulatory landscape & future scope
by GlobalData
Enter your details here to receive your free Whitepaper.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Monday. The industry's most comprehensive news and information delivered every quarter.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Style