Fashion, Luxury, and Cosmetics industries have placed a much higher priority on sustainability initiatives in recent years. Is this just in response to shifting consumer demands and topical trends, or are brands working sustainability initiatives into their top-down processes?
Research shows that the younger fashion consumers are willing to spend more and prioritize sustainably-produced clothing, however, when it comes to actively taking part in the conversation around sustainability, the cosmetics industry is reigning, as this sector has generated $77M in MIV®, compared to the $40M in MIV generated by the fashion industry (in relation to sustainable terms).
Creating an eco-friendly collection to meet this demand is a step forward, but brands in the industry need to look at their entire operational process if they want to start making leaps towards a Zero-Waste collection.
Sustainability is closely linked to the internal processes of businesses that involve waste of energy, materials, and resources, and brands can utilize data to start anticipating smarter decisions to reduce waste. Predicting where items will be popular in order to determine global stock allocation, moving collections online to evaluate success before production, reducing sample loss and redistributing items via online campaigns that haven’t sold as well, are just a few ways data can help brands look forward to a sustainable future.
In this data report, we take an analytical look at the fashion and cosmetics brands that are championing sustainability, the influencers, and celebrities that are driving the conversations around the subject and interview the likes of Morten Lehmann, Chief Sustainability Officer at Global Fashion Agenda, Brianne West, Founder and CEO of Ethique — the world’s first zero-waste beauty brand, and Christopher Raeburn, Founder of Raeburn and Creative Director at Timberland. We also share step-by-step how brands can work towards creating the perfect zero-waste collection.
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