THE NEXT BIG QUESTION: TO BE OR NOT TO BE SUSTAINABLE

Sustainability, at the core of their business models, will help fashion brands and retailers rebuild resilient and sustainable businesses post COVID-19...

Even as fashion retail businesses have remained shut and balance sheets have been stressed due to unprecedented challenges led by the outbreak of COVID-19, there has been a simultaneous demand for companies to accelerate their progress on sustainable initiatives in order to be competitive in the market that will emerge post-pandemic.

Sustainability, at the core of their business models, will help fashion brands and retailers rebuild resilient and sustainable businesses post COVID-19. “COVID-19 has elevated the importance of sustainability. It is now up to industry leaders to grab the opportunities for their companies to advance with sustainable business models in an environment that has become even more volatile,” said Eva Kruse, CEO, Global Fashion Agenda.

Research

According to ‘Weaving a Better Future: Rebuilding a More Sustainable Fashion Industry After COVID-19’, a report by Boston Consulting Group, Sustainable Apparel Coalition and technology company Higg Co, “Tempting as it may be for an industry reeling from global pandemic lockdowns, fashion companies should not shelve their sustainability investments, but should instead protect the human capital and relationships in their supply chains and maintain key social and environmental programmes.”