A major movement in the global fashion industry has just taken place that will find little mention in the western media. The BRICS+ Fashion Summit wrapped up in Moscow last week, where industry leaders from more than 50 countries signed a memorandum to form a new association that will fuel the world’s emerging economies.
BRICS International Fashion Federation is possibly the biggest move to shift the fashion industry’s centre of gravity from Europe and the US to the faster developing newer markets. This would promote more international cooperation, include new economies, increase efficiency, create new opportunities, improve sustainability and allow for a more global perspective in the fashion and retail business. The memorandum on the creation of the BRICS International Fashion Federation was signed in Moscow by the heads of fashion weeks, CEOs of fashion and textile associations, heads of educational institutions from India, South Africa, Russia, Indonesia, Malaysia, Ghana, Tanzania, Jordan and several other countries. The BRICS is an intergovernmental organisation that includes Brazil, Russia, India, China, South Africa and, since 2024, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates. The signing followed the BRICS+ Fashion Summit, which took place in Moscow from October 3 to 5, and was attended by over 100 countries.
Says Sunil Sethi, chairman of the Fashion Design Council of India: “The fashion industry is mainly led by a handful of global brands, so it is necessary that the emerging markets have a platform to raise their voice. The call for such an alliance is long overdue. Brands, designers and fashion markets face common challenges—from supply chain disruptions to environmental concerns—that can be addressed more effectively through joint action.”
Bu hikaye THE WEEK India dergisinin October 27, 2024 sayısından alınmıştır.
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Bu hikaye THE WEEK India dergisinin October 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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