Creating Circular Fashion Economies
Manage episode 285216259 series 2833598
Sustainable fashion is now front and center in customer’s minds and purchase behaviors, as well as business logistics and planning. It’s been a precipitous philosophical shift over the past 20 years, as the impact of the industry on the environment and the people it employs has become more visible to the public. Talk has turned to practice, as both a means to ensure long-term viability and meet customer demand. And yet this shift can be daunting to companies--as sustainability encompasses so many different moving parts in a complex supply chain.
According to sustainability expert and founder of The Knew Purpose, Sydney Price recommends that companies adopt a circular economy model. This model is quite literally a supply chain that operates like a circle and is based on three core principles.
The first principle Sydney says is designing out waste and pollution points.
The focus here is on transitioning to more effective and efficient waste elimination processes that require fewer resource inputs such as fossil fuels, chemicals and even water. It also seeks to adopt more energy efficient resources such as renewable energy.
The second principle is keeping products and materials in use.
The idea here is to transform the way clothes are designed, sold and used to break free from their disposable nature. Companies can start by creating more durable clothes. They can also change their business models to short-term rental subscriptions, resale and on-demand purchasing. Brands can also offer repair services.
Sydney points out that focusing on this principle can add to overall brand / consumer engagement, and augment the perceived quality of product, experience and convenience, or what creative strategist AJ Lacouette refers to as the new trinity.
The third and final principle is regenerating natural systems.
A circular economy avoids the use of non-renewable resources and preserves or enhances renewable ones, for instance by returning valuable nutrients to the soil to support regeneration, or using renewable energy as opposed to relying on fossil fuels.
Read the full transcript: FCNewsBytes.com
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