Countless Brand Opportunities in Circular Fashion Industry
**Ok, before we get started, make sure you cue Macklemore's Thrift Shop in the background**
Circular fashion is gaining momentum, with big players like H&M and thredUP leading the way. As Macklemore's bumpin song indicated, thrifting and second-hand shopping is becoming increasingly popular as consumers seek sustainable and ethical options.
But what is circular fashion, and why is it necessary?
Achieving circularity in fashion means designing clothing that can be recycled, reused, or repurposed at the end of its life, thus reducing waste and minimizing the environmental impact of the fashion industry. The need for a sustainable and ethical future is becoming increasingly apparent as the industry’s social and environmental impact continues to cause substantial damage.
However, change in the industry is slower than many had hoped, and the pandemic has made things even more challenging for fashion businesses. The fashion market is struggling to deliver significant growth, largely due to inflation, political uncertainties, and ongoing disruption to supply chains. This compounds the challenges fashion businesses are up against when adopting circular practices.
But there is a lot of room for new business.
Despite the challenges, there are huge opportunities for both new and existing brands to tap into the circular fashion movement. One of the biggest drivers of growth in the industry is impending regulations. The European Union has already submitted a strategy for sustainable and circular textiles calling for Digital Product Passports to be mandatory on textiles sold in Europe by 2030. France is targeting its biggest fashion companies, requiring them to give customers in-depth details relating to a product’s environmental characteristics. Compliance with these laws will require operational changes to happen now.
Resale and rental business models entered the circular arena several years ago, providing a useful channel where consumers can keep clothes and accessories in use for longer, delaying the inevitability of items ending up in landfills and incinerators. Some of the early players to gain traction include Vestiaire Collective The RealReal, thredUP Rent The Runway, Rntr., Designerex, and GlamCorner. However, independent marketplaces will benefit from having strong ties to brands and providing clear pathways for clothes to be part of a circular loop.
Textile recycling facilities are becoming more readily available, but it can be difficult for brands to ascertain the type of textiles that can be recycled and what the downcycled textiles are being made into. One of the biggest challenges for textile recycling plants is the manual sorting process required to group textiles into material compositions that can be recycled. Global fast fashion retailer H&M has announced it will make a move into textile sorting, partnering with recycling company REMONDIS Gruppe in a collaboration dubbed Looper Textile Co.
The effort to achieve a circular future in fashion is worth its weight in a clean and kind planet. With circular fashion, we can shift our perspective from simply discarding clothes to repurposing them, ultimately creating a more sustainable and ethical future for fashion. As Macklemore would say, “This is F***ing awesome”.
Are you ready to be a part of the fashion revolution that is both sustainable and ethical? Join us as we delve into the opportunities and challenges that lie ahead, and learn how your brand can lead the way in the circular fashion frontier.