The global apparel industry experienced a 46% drop in company filings mentions of social responsibility in Q3 2022 compared with the previous quarter, with the highest share accounted for by NIKE with 13% year-on-year increase, according to GlobalData’s analysis of over 40 apparel company filings.
Notably, social responsibility was one of the most frequently referenced themes in Q3 2022, ranking highest in terms of mentions, ahead of ecommerce and cloud, according to GlobalData’s whitepaper on Social Responsibility in Apparel – Filings Trends in Q3 2022.
Of the 50 leading companies in the apparel industry, NIKE had the greatest increase in references for social responsibility in Q3 2022, compared with the previous quarter. GlobalData identified 18 social responsibility-related sentences in the company's filings - 45% of all sentences - and an increase of 100% in Q3 2022 compared with Q2 2022. Lululemon Athletica’s mentions of social responsibility rose by 12% to 9 and VF’s by 79% to 5.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for social responsibility in Q3 2022 was 91.