27 November 2023
27 November 2023
As Black Friday and Cyber Monday discounts continue, the disconnect between consumerism and sustainability within the fashion industry is ever more apparent.
Global fashion retailer H&M Group in partnership with Southeast Asia’s bank DBS has started what it describes as a "first of its kind" green loan programme to accelerate the decarbonisation of fashion supply chains.
The Ethical Trade Initiative (ETI) has cleared UK retailer Next after one of its sourcing suppliers in Türkiye closed its business without offering due severance, however the retailer has been asked to consider a "good will gesture".
Top fashion supply chain-related posts this week range from Better Cotton discussing a sustainable cotton programme in Chad to non-profit Canopy's 2023 Hot Button report revealing a shift towards next-gen materials.
Apparel retailer American Eagle Outfitters (AEO) has reported a 5% increase in revenue to $1.3bn for its third quarter ended 28 October and raised its annual revenue forecast due to a steady demand for its apparel and accessories ahead of the holiday season.
Abercrombie & Fitch Co. beat its own expectations and reported a 20% sales growth for the third quarter that ended 28 October, driven by its namesake brand Abercrombie which led to a 30% growth in sales.
Challenging conditions in the Middle East have plagued British retailer Mothercare's performance with turnover falling to £29m ($36.5m) for the first six months of the fiscal year (H1) compared to £38.5m ($48.4m) a year earlier.
The Hot Button 2023 report published by non-profit environmental organisation Canopy revealed that 71% of the world's man-made cellulosic fibre (MMCF) producers (or 54% of global production) have now achieved the coveted "green shirt" rating.
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Personalization has increased as technologies have advanced, with a retailer’s ability to collect, analyze, and utilize consumer data being aided by the effective use of analytics tools. Consumers are also increasingly individualistic, especially Gen Z, and want products that are specifically targeted to their needs and goals. These consumers are often willing to pay a premium for such items. Although the opportunities for product personalization in apparel are rife, personalized products are generally not offered by mainstream retailers due to the higher costs involved.
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