$500 billion value lost per annum owing to underutiilzation and poor recycling

Stakeholders

City and local administration

Digital solution providers for textiles industry

Entrepreneurs

International policy makers

Logistics professionals

Over $500 billion of value is lost each year due to clothing underutilization and lack of recycling (Ellen MacArthur Foundation, 2018).

Underutilization clearly is a big challenge to be tackled and if tackled well, it is obvious that the sustainability benefits are enormous.

Many premium and luxury brands in fact promote longevity and sometimes even lifelong utilization potential as a USP for their products. The fast fashion segment, on the contrary, looks at apparel as disposable and as a result, many fast fashion brands had aligned their company strategy and marketing towards such a wasteful perspective.

It appears that the fast fashion brands can learn (and implement) a thing or two from the luxury brands - and one of them could be that when a customer pays a hefty premium for a quality product, he/she looks at it as less as a product to be used and thrown away and more as a collectible! And what a difference such a difference in perspective make.