Source: The Business of Fashion
Summary
According to a report by the Global Fashion Agenda, 60% of consumers consider the environmental impact of their purchases, and 50% of Gen Z consumers prefer to buy second-hand or rent clothing. The report also found that 75% of companies have implemented circular business models, such as clothing take-back programs and product recycling. Companies like H&M and Patagonia are already seeing benefits from adopting circular strategies.
Our Reading
The trend returns with a new name.
Circular business models are not new, but the language around them has shifted. The emphasis on sustainability has led to a rebranding of existing practices. H&M’s Garment Collecting Initiative, launched in 2013, is now part of a broader circular strategy. Patagonia’s Worn Wear program, which encourages customers to repair and reuse their products, has been around since 2011. The look feels familiar, but the marketing is fresh.
Author: Evan Null
