Why Fashion Brands Are Doubling Down on Sustainability | The Business of Fashion Show

  Рет қаралды 209,711

Bloomberg Originals

Bloomberg Originals

2 жыл бұрын

For luxury executives including Kering Chief Executive Officer François Henri-Pinault, 2020 was the year in which the industry forever changed. Amid the arrival of the coronavirus, companies such as his suffered their worst year on record. Consumer behavior shifted even faster from brick-and-mortar to online as supply chains were disrupted. The upheaval has only made more urgent a critical question facing the biggest brands: How does the luxury industry continue to grow while also becoming more sustainable?
Visit www.businessoffashion.com for fashion news, analysis and business intelligence from the leading digital authority on the global fashion industry.
#Sustainability #Fashion #BloombergQuicktake
--------
Like this video? Subscribe: kzfaq.info?sub_...
Become a Quicktake Member for exclusive perks: kzfaq.infojoin
Subscribe to Quicktake Explained: bit.ly/3iERrup
QuickTake Originals is Bloomberg's official premium video channel. We bring you insights and analysis from business, science, and technology experts who are shaping our future. We’re home to Hello World, Giant Leap, Storylines, and the series powering CityLab, Bloomberg Businessweek, Bloomberg Green, and much more.
Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world.
Visit our partner channel QuickTake News for breaking global news and insight in an instant.

Пікірлер: 112
@fatoomgierdien2181
@fatoomgierdien2181 2 жыл бұрын
Another fantastic video from the "Business of Fashion". Thank you. Cape Town
@tengkualiff
@tengkualiff 2 жыл бұрын
From the title, its a simple reason: Their target market are more likely to be environmentally conscience = more appeal to their fashion brand the more "sustainable" it is.
@leuvenfra
@leuvenfra Жыл бұрын
absolutely obsessed with the host. he really doesn't know anything about fashion but he feels strongly about it
@finplained7343
@finplained7343 2 жыл бұрын
This isn't the first time I see media coverage discussing greenwashing in fashion, They're just selling ethical badges for rich people 🤷 Which is changing nothing
@INICK84
@INICK84 2 жыл бұрын
I kinda agree with this, small changes do massive things in the long run but they do need to do more
@princetandukar9290
@princetandukar9290 2 жыл бұрын
Is this a very long ad?
@CausticLemons7
@CausticLemons7 2 жыл бұрын
I don't follow fashion or really know anything about it yet I've realized I watch each one of your videos, Imran. Thank you!
@PHlophe
@PHlophe 2 жыл бұрын
you seem to know a lot . Own up to it !
@joeblack4436
@joeblack4436 2 жыл бұрын
I'll believe it when I see it. Go to some places in Indonesia for instance, and you find river water so polluted by textile factories that rice grown with the water has more than 150x the safe Lead minimum. Chromium, arsenic, etc, etc. And that country is an exporter of rice too.
@bogdar2019
@bogdar2019 9 ай бұрын
In summary, better sourcing policies and a better inventory management.
@Dudemar0
@Dudemar0 2 жыл бұрын
Ethical rich people clothing isn’t super impactful… we need affordable sustainable fashion
@amde8554
@amde8554 2 жыл бұрын
@@nigel-uno exactly
@amde8554
@amde8554 2 жыл бұрын
Second hand clothes - for the reasons the other commenter stated, it’s not possible in the primary market
@mnharjotsingh
@mnharjotsingh Жыл бұрын
Closing statement was "making, selling, buying fewer clothes" -- as someone who dislikes shopping for clothes and who tends to stick with and wear the same 5 things for as long as he can, I definitely feel like the durability and quality of clothing has (purposefully) been declining. There was mention of Kering creating "4,000 new sustainable material"; does it really matter if a material is more sustainable if it just falls apart after a few months of use? ie needs to be replaced 5x as frequently. As it stands, I feel like sustainability is a sham; it is just producing more waste over time: consumers lose, the environment loses, but companies win as they move more products under a vile of virtue; it's no wonder they need to resale older products as that is where their quality/durable materials will remain and become scarce (increase demand $$$).
@lukerabin5079
@lukerabin5079 2 жыл бұрын
They’re doubling down on sustainability…because they’re attempting to make themselves relevant. If nothing else, we’ve learned that the fashion industry, especially at its highest and lowest ends, are largely irrelevant.
@jazlyn7590
@jazlyn7590 2 жыл бұрын
Start simple. Start producing less. Start demanding less. Focus more on quality and long lasting products instead of cheap but short lived ones. If millions of us did that, we will be doing great help to save the environment.
@INICK84
@INICK84 2 жыл бұрын
A lot of clothes end up trashed and lead to a large amount of pollution. Donating thrifting clothes makes the industry more sustainable
@IsomerSoma
@IsomerSoma 2 жыл бұрын
Also buying less. I am buying new clothes every 2 years and even this would have been much a few decades ago.
@mnharjotsingh
@mnharjotsingh Жыл бұрын
This^^. Quality of product seems to have (purposefully) declined; I still have somewhat faded shirts from 15 years ago I can still wear without embarrassment, but the polos I bought this summer have already started coming apart. This "4,000 new sustainable fabrics" thing mentioned in the video is a complete sham in my opinion, just designed to keep us buying MORE while lulling environmentalists to silence.
@TheLordHiggs
@TheLordHiggs 2 жыл бұрын
"New trends" On a fashion catwalk? Hardly.
@itsmenoname2247
@itsmenoname2247 2 жыл бұрын
they only care about popular opinion. they go where the wind blows. they care about making money and not people
@alexzandriaashton5641
@alexzandriaashton5641 Жыл бұрын
I agree that there is still a huge lack in effort in the labour rights sectors of the global fashion supply chain. Workers found in the earlier stages of the supply chain need to be paid more fairly, and be gauranteed safer working conditions. We need more auditors physically monitoring the factories that brands are working with to ensure safety measures are in place and that regionally calculated live-able wages are paid.
@the_resourceful
@the_resourceful 2 жыл бұрын
Also complete transparency! Consumers do not want to be duped by something lab created when they are seeking actual silkworm silk and from the earth cotton.
@LFalby
@LFalby 2 жыл бұрын
M. Pinault's job is to grow his company and maximize shareholder returns. This is generally incompatible with achieving sustainability. Is it possible to make an ethical product and also improve your profitability? Most CEOs will choose profits over ethics. How can we change this? Consumers must demand changes. Thank you for at least attempting to address the question. We must keep pushing the industry for greater responsibility. Let them know that we are watching their behaviour.
@l.j.russell902
@l.j.russell902 2 жыл бұрын
Consumers must demand changes but also shareholders. Especially the shareholders on the boards of these companies. They have the influence to shift business models to more sustainable operations
@petyazankinsky3283
@petyazankinsky3283 2 жыл бұрын
There is a brilliant way of maximising shareholder profits by increasing the prices of luxury goods and lowering production and distribution costs. But we live in a world where if u move production to regulated markets you will end up with higher costs, and perhaps fever resources, so u will still need to transport resources and facilitate production, which ultimately increases prices. Is nearly impossible to regulate, unregulated markets where mass production is taking place. and far too expensive to move the whole production to regulated markets. This is the biggest challenge The Fashion industry face... and nearly forget to mention the disruption in the supply chain due to climate change. The Fashion Industry doesn't have 10 years to come up with a solution.
@FBAagent
@FBAagent Жыл бұрын
On top of that, the french brands ceos are blatant non-diverse, non-inclusive, promoting verticality traditional values. They are far from celebrating diversity, global connectedness and equality.
@karolinakuc4783
@karolinakuc4783 9 ай бұрын
Buying second-hand is cheaper
@10-OSwords
@10-OSwords 2 жыл бұрын
It's so nice to talk about how everyone needs to buy more expensive clothing when most people can't afford to do so & in the guise of sustainability when it's most likely just going to make fashion companies richer...talk to me when old navy, asos or other low end sellers that the majority of people can afford are able to make fully sustainable product lines & still turn a profit.
@alexandra4real360
@alexandra4real360 2 жыл бұрын
H&M has started a sustainability line and they're pretty affordable.
@karolinakuc4783
@karolinakuc4783 9 ай бұрын
​@@alexandra4real360You mean how they were selling normal cotton disguused as organic cotton, or lied they are selling natural fibers when they were selling synthetic ones?
@skwad240
@skwad240 2 жыл бұрын
I hope to work one day in Kering's sustainability departament. 🍀
@johngablesmith4671
@johngablesmith4671 2 жыл бұрын
I love Vivien Westwood's and Stella McCartney's comments.
@FinancialShinanigan
@FinancialShinanigan 2 жыл бұрын
They should triple down just to be safe as customers demand more environmental friendly processes.
@byshagi
@byshagi 2 жыл бұрын
luv this
@kimberlyperrotis8962
@kimberlyperrotis8962 2 жыл бұрын
I want ethical, sustainable wardrobe items that are made from natural fibers and materials that will biodegrade. I look for intrinsic re-use value, rather than re-sale value, which is an illusion in fashion, initial cost can never be recovered. A classic silk shirt in excellent condition is much more likely to attract a second owner than a trendy, cheap polyester top. People will buy new instead of low-quality secondhand. I want as many of my purchases to be reused as possible when I pass them on.
@IAMFRESH
@IAMFRESH 2 жыл бұрын
A step in the right direction
@jacquelyncorbin8116
@jacquelyncorbin8116 2 жыл бұрын
We rely on neighborhood stores. Why aren't they getting on board? Need new laws.
@eddiejohnhurst1
@eddiejohnhurst1 2 жыл бұрын
I love wearing certain brands and styles!
@kitanakitty82
@kitanakitty82 2 жыл бұрын
Totally enjoyed this report and the questions Imran Amed asked.
@wallacesouza2678
@wallacesouza2678 Жыл бұрын
putting our time and effort in activities and investments that will yielda profitable return in the future is what we should be aiming for. success depends on the actions or steps you take to achieve it.
@antoniaprieto5390
@antoniaprieto5390 Жыл бұрын
I have incurred so much losses trading on my own..I trade well on demo. But I think the real market is manipulated. Can anyone help me out or at least tell me what I'm doing wrong
@johannesziegler5590
@johannesziegler5590 Жыл бұрын
Wow I'm amazed you mentioned and recommended expert Mrs Olivera Jane. Though I'm the only one who enjoying her services
@aarongirard1595
@aarongirard1595 Жыл бұрын
You don't need to be shocked because I'm also a huge beneficiary of expert Mrs Olivera
@brucehill6918
@brucehill6918 Жыл бұрын
I know her, I stumbled upon one of her clients testimonies and decided to try her out...l'm expecting my third cash out in two days
@antoniaprieto5390
@antoniaprieto5390 Жыл бұрын
Who doesn't know her. Her stories is painted everywhere here on KZfaq. Here in Canada Olivera carry out the both orientation and mentorship potentials
@swizzzing123
@swizzzing123 2 жыл бұрын
With sustainable fashion comes a higher cost. And for that companies need to pay their employees well to afford and the entire system shifts slowly… after all, we are the consumers and it does greatly depends upon us too.
@itsmenoname2247
@itsmenoname2247 2 жыл бұрын
just stop consuming this crap
@mr.mentos9433
@mr.mentos9433 2 жыл бұрын
Nice
@jamesslate1026
@jamesslate1026 2 жыл бұрын
I think the customer for luxury fashion is already promoting sustainability, in the sense that they consider their purchases as an investment rather than something disposable. While I was between jobs, I worked at a large Macy's. The employee discount allowed us to buy items from the sister company Bloomingdale's. One of my co-workers saved up her discretionary money for six months, so that she could purchase a Chanel handbag, something she had always dreamed of owning. When I asked her why she wanted this particular brand, she told me that she intended to pass the handbag on to her daughter, as a family heirloom. So the handbag would get a second, and maybe even a third life. That said, leather production is one of the most disastrous industries for the environment. The chemicals that are used to bleach and dye leather end up polluting the water system and the topsoil. There are leather tanneries in various parts of India, but not in the state of Uttar Pradesh, due to the majority of Hindus in the region. As a byproduct, the environment is in much better shape than other parts of India. It would be interesting to see a follow-up to this video focusing on sustainability in the luxury leather industry.
@fatoomgierdien2181
@fatoomgierdien2181 2 жыл бұрын
Thank you for sharing an interesting and informative video. Cape Town
@user-ll4cu5dh3b
@user-ll4cu5dh3b 2 жыл бұрын
I'm presuming you're using "sustainability" in terms of durability. Saying that luxury products are considered 'investments' doesn't really help with the problem itself though. A lot of the "value" that comes with these luxury goods is through its status as a "luxury" product. The products have a high cost of entry and some times certain designs are scarcer (think, limited edition releases), therefore more people are more willing to wear the clothes second-handed or even hold onto it as an "investment" like your coworker. Yet, the incentive for the luxury company to reduce its production or even be environmentally friendly hasn't changed just by virtue of these facts alone. For those who can afford to, they can still purchase luxury fashion in excess. The only difference between this and fast fashion is that for fast fashion, there are more consumers that can afford the clothes and the cheaper cost makes the clothes valueless/disposable. People seem to forget that fast fashion, like luxury fashion, follows seasonal trends and targets people's insecurities of belonging in society to market itself. Fast fashion can't also just overprice its products like luxury fashion since it doesn't have the same brand status, and even if we postulated universe where it does do so, there will be a class of people who wouldn't be able to wear clothes. Just because expensive art pieces can be treated as investments and are made out of paper and ink doesn't mean it's promoting sustainability. People will still need paper and ink for everyday use and those everyday use paper and ink can't be treated the same as "art" to combat the issue of sustainability. In other words, ask your co-worker if she would wear her Chanel everyday; chances are, if she considered it as a heirloom, then she would probably not. She would probably store it in a closet somewhere while using a, dare I say, cheaper and disposable bag for her everyday use. She'll probably take out her Chanel bag once every a blue moon. Then, the problem isn't with the goods themselves, but with human perception. If your friend treated a cheap Zara bag in the same likeness as her Chanel, the Zara bag would also be more durable. The solution for sustainability in either luxury or fast fashion, I think, is for consumers to take a minimalist approach in purchasing new clothing [at least until we develop a way to recycle clothes curbside] and for the companies themselves to bring more transparency in the supply chain and manufacturing process.
@jrrcn
@jrrcn 2 жыл бұрын
I just love 22min ads
@kirtichandrakomarraju5164
@kirtichandrakomarraju5164 2 жыл бұрын
Fast fashion can never be sustainable. The idea of endless and perpetual consumption which is what this industry originates from is the root cause of pollution.
@mscylon1
@mscylon1 Ай бұрын
You can’t call yourself sustainable yet, when the impact at the raw materials is still produce like in mono crop production. Where new land is being converted and existing land is being an unproductive land, and the watershed is being polluted with chemicals dyed.
@jaredhill8721
@jaredhill8721 2 жыл бұрын
Someday our children will look back at the age of fast fashion with the same disdain that we look at vehicles like the Hummer today. A waste of materials and bad for the environment.
@hank_Reardon
@hank_Reardon 2 жыл бұрын
Just stop buying shit.
@Obscurai
@Obscurai 2 жыл бұрын
The problem is the consumer - not the producers. Consumers need to buy only what they need, not what is in "fashion". The problem is the fashion business itself of selling "fashion". Buy clothing to be clothed not to be a fashionista.
@Rachel-ks5zn
@Rachel-ks5zn 2 жыл бұрын
❤️❤️❤️
@srishtijaitwani1059
@srishtijaitwani1059 3 ай бұрын
Let Virgio help you build a cute, eco-friendly dress wardrobe.
@owenbeharry8478
@owenbeharry8478 2 жыл бұрын
We need Tim to host this.
@delpilarcueto1060
@delpilarcueto1060 Жыл бұрын
In order to help. All educational and workforce systems should have everyone wear uniforms. Also, go back to how it was b4. We would change into clothes to be at home or clothes to play outside. The have our Sunday best.
@petyazankinsky3283
@petyazankinsky3283 2 жыл бұрын
There is a brilliant way of maximising shareholder profits by increasing the prices of luxury goods and lowering production and distribution costs. But we live in a world where if u move production to regulated markets you will end up with higher costs, and perhaps fever resources, so u will still need to transport resources and facilitate production, which ultimately increases prices. Is nearly impossible to regulate, unregulated markets where mass production is taking place. and far too expensive to move the whole production to regulated markets. This is the biggest challenge The Fashion industry face... and nearly forget to mention the disruption in the supply chain due to climate change. The Fashion Industry doesn't have 10 years to come up with a solution.
@petyazankinsky3283
@petyazankinsky3283 2 жыл бұрын
creating lab materials is one way of moving forward...
@user-io6ww9uv7e
@user-io6ww9uv7e 7 ай бұрын
This is very simple, just put people over profits
@ipdavid1043
@ipdavid1043 3 күн бұрын
fashion should not make seasonal at all. bar none❤
@Mashburn007
@Mashburn007 2 жыл бұрын
Well it's all down to attracting more potential customers and a slightly better by-product of "waste". All I worry about is the people supporting this 'luxury segment' outside these groups.
@mike8055
@mike8055 2 жыл бұрын
What we need.. is less clothing in the first place! LESS stuff in general. No "ethical" companies, or more this and stuff. Just LESS in general. But in our capitalist and consumerism-led society, it's basically impossible.
@dagger732
@dagger732 2 жыл бұрын
Yep. Life today is just about consuming more! This itself is not sustainable
@user-ye2fw9mb7n
@user-ye2fw9mb7n 6 ай бұрын
Cause the most vanity driven people are the most socially conscious? RIGHT that's why their second home is instagram-land where they are always Instagram happy.
@itsmenoname2247
@itsmenoname2247 2 жыл бұрын
and who cares about fashion when people have not enough to feed their family's.
@Chocolatmisu
@Chocolatmisu 2 жыл бұрын
I just couldn't get anything but ecofascism vibes from this content.
@kwokleongawyong2895
@kwokleongawyong2895 2 жыл бұрын
Will leather follow the path of furs?
@carolgaribay
@carolgaribay 2 жыл бұрын
Fashion and sustainability. What a joke.
@Sunday8916
@Sunday8916 2 жыл бұрын
Economics of artificial scarcity take us away
@PHlophe
@PHlophe 2 жыл бұрын
sasha, what part of this was about scarcity
@karolinakuc4783
@karolinakuc4783 9 ай бұрын
If you make ypur product scarce at least justify its scarcity that is use better materials and don't use sweatshops but artisans
@latinaalma1947
@latinaalma1947 2 жыл бұрын
60% MORE A CLOTHING BOUGHT? Why? There is no reason for this...consumption from boredom? I would love to see the psychological WHY? I am a clinical psychologist and have treated patients with high debt and a shopping addiction...compulsions...OCD obsessive compulsive disorder. Not every excess shopper of course has an addiction. In this video there are no real soluioms proposed....especially the obvioius: BUY FAR LESS. I wear classic clothes, never fads. I have coats and blazers 20yrs old and they are still perfect an look perfect on me.I buy vintage. Or end of season exported abroad to where I live. I know many high end brands of bags especially BURN PRODUCTS to keep prices high...that was never mentioned here. I will never buy a designer bag though I could...I would rather out my money into more long term investments. They saying NOTHING real about sustainability here at all. Real sustainability for the environment of anyone who is really serious and not BSing about that means BUYING far less overall, buying no fast cheap fashion, not changing style of gold washed, plated jewelry fashion trends and fittings constantly! There is no way manufacturers want to make LESS, scale back, or want their customers to do so....this is all a huge con job and yes some of the worst treatment of workers are high end manufacturers...yet where do those workers go to work if production is cut? They dont want to go back to worming foeldtheir parents worked. I know because I am in Central America with lots of maquilladors. I lnoe people who work in them and thatnis whatnthey trll .e...they are all young early 20s. They want a life different from their parents butmthere is lottle.other manufacturing employmentnavailable here....manynhead to the US border hoping to male higher wages there...they are not starving nor are they homeless they just want better wages.
@markusaurelius7227
@markusaurelius7227 2 жыл бұрын
Fashion and fake sustainability 😂
@kaykay1570
@kaykay1570 2 жыл бұрын
So... one week you're propping up fast fashion and expensive trash. Now you're showing sustainability in those industries. Sure?... 🤔🧐😡
@kaykay1570
@kaykay1570 2 жыл бұрын
@@nigel-uno thats funny, cause i thought we were trying to fight against one of the biggest human calamities in the modern world. Oh, oh... i forgot. All arguements are equal. Always. 🤣. And its funny you through in a little dig thinking you were smart. But you just got school son 🤣
@INICK84
@INICK84 2 жыл бұрын
Journalism should be about reporting on facts and issues with Un bias in them. It’s suppose to open up your mind to your own opinions
@kaykay1570
@kaykay1570 2 жыл бұрын
@@INICK84 In what world do you think "reporting" is unbias. Grow up. This channel has chosen to stand on the side of climate change, so PROMOTING the opposite is hypocritical and it should be fine if someone points that out.
@longshengpeh978
@longshengpeh978 2 жыл бұрын
French People are just so simply brilliant.
@billya8617
@billya8617 2 жыл бұрын
The host of the show has substance, but comes across as harsh, abrassive, and judgemental. Perhaps, framing the questions different or coming across (less) as an activist would do a good cause bettter service. Solving externalities will only help the environment to the extent that the luxury industry operates on. Perhaphs, setting a standard for the entire clothing industry (across the board) would be a better strategy. Also, better horizontal integration might be needed, and but also workign with the suppliers at the vertical level.
@DanielleA2023
@DanielleA2023 2 жыл бұрын
If only the right wing governments around the world would address climate change with the same intelligence, commitment, informed decision making and compassion as anna wintour and the fashion industry
@JessicaZane4realz
@JessicaZane4realz 2 жыл бұрын
Just give me my fancy expensive stuff, I don't care about your green sustainability nonsense.
@finplained7343
@finplained7343 2 жыл бұрын
Ikr 😂
@ytknits4892
@ytknits4892 2 жыл бұрын
Fancy expensive stuff like Vivienne Westwood, Stella McCartney and Marine Serre?
@ॐSrimanArcharyaJBC
@ॐSrimanArcharyaJBC 2 жыл бұрын
Did you know that before 9th century the skull of making clothes was not around the world only India made fabrics and textiles. You will notice that in biblical books and films many Europeans and Middle Easter people wearing rags and fully stripy clothes like a apron. These where made my the food grain bags that came from India. Many of the Europeans did not wear clothes at all and the cleaver people started wearing the grain bags. The Africans did not work out that the grain bags could be used and made into recycled clothes until my father went to Africa and gave them freedom to wear any clothes they wanted. 🤴🏽🕉🔺➕
@Roosevelt.Meyers
@Roosevelt.Meyers 5 ай бұрын
They should triple down just to be safe as customers demand more environmental friendly processes.
@user-pn2hb9xo6t
@user-pn2hb9xo6t 5 ай бұрын
Nice
@lovepower4899
@lovepower4899 2 жыл бұрын
This is very simple, just put people over profits
@davidsflooringco
@davidsflooringco 2 жыл бұрын
Cause the most vanity driven people are the most socially conscious? RIGHT that's why their second home is instagram-land where they are always Instagram happy.
Inside the Massive Second-Hand Fashion Market | The Business of Fashion Show
23:13
Mama vs Son vs Daddy 😭🤣
00:13
DADDYSON SHOW
Рет қаралды 44 МЛН
Inside Out 2: Who is the strongest? Joy vs Envy vs Anger #shorts #animation
00:22
Exposing the secrets of sustainable fashion (Marketplace)
20:37
Responsible Leadership In A Changing World, VOICES2023 | The Business of Fashion
37:01
How LVMH Became A $500 Billion Luxury Powerhouse
19:48
CNBC
Рет қаралды 1,4 МЛН
Inside Yohji Yamamoto's Fashion Philosophy | The Business of Fashion
39:08
The Business of Fashion
Рет қаралды 373 М.
H&M and Zara: Can fast fashion be eco-friendly?
12:35
DW Planet A
Рет қаралды 646 М.
When JPMorgan CEO Jamie Dimon Speaks, the World Listens | The Circuit
22:32
Bloomberg Originals
Рет қаралды 1,9 МЛН
The Future of Fashion with Alexa Chung in New York | British Vogue
1:04:02
British Vogue
Рет қаралды 3,8 МЛН
Mama vs Son vs Daddy 😭🤣
00:13
DADDYSON SHOW
Рет қаралды 44 МЛН