There is an interesting and detailed report out today from McKinsey and Co. While it is focused on the concept and practicalities of brands and retailers bringing production closer to their main markets (essential when we only have a dozen years to save the planet) it touches on a number of reasons why AND highlights many of the practices and mindsets which make the fashion industry inefficient and wasteful. Both of which contribute to the damage we are all doing to the planet.
I could rant on about other matters here. Politics, education, rampant capitalism, etc, etc, but will stop here and instead highlight some key statements from the introduction to the report. All of which we are directly addressing with the advent of bnv.me.
I have just quoted and highlighted the points that we are DIRECTLY addressing as part of the bnv.me business model.
“Mass-market apparel brands and retailers are competing with pure-play online start-ups, the most successful of which can replicate new styles and get them to customers within weeks. Furthermore, apparel companies have lost much of their clout in setting the tone. In most mass-market categories, today’s hottest trends are determined by individual influencers and consumers rather than by the marketing departments of fashion companies. Pressure on profitability due to decreasing full-price sell-through, as well as increasing concerns regarding the environmental impact of overproduction, call for agile production in smaller batch sizes and for on-demand replenishment. “
“The problem is, most of the established fashion players are burdened with slow commercial processes and legacy supply-chain and sourcing setups—and therefore struggle to keep up with more nimble competitors.”
“Today, the industry is at a crossroads where speed beats marginal cost advantage and basic compliance is upgraded to an integrated sustainability strategy. The traditional supply chain setup is now challenged, and as labor costs converge, brands and retailers are starting to rethink their sourcing and production models more broadly.”
“Consumers are becoming increasingly aware of the environmental impact of the traditional linear apparel production modes, and the public outcry concerning overstock liquidation is becoming louder.”
“As the mass-market apparel sector is moving to a demand-focused, agile supply model—and as labor costs are rising—automation will play a key role in increasing labor efficiency, throughput, and flexibility.”
No more comments needed at this point…….
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