climate-change

We are crossing over into a new era where competitive advantage for major retailers which will come, not through further extraction of value from society, but through contribution of value to society, argues futurist Doug Stephens.

Overconsumption and fast fashion have become easy targets for brands flexing their climate-friendly attributes. Consumers may agree with the message — but take issue with a self-righteous tone.

To address the urgent need to reduce greenhouse gas emissions throughout brands’ and retailers’ supply chains, the US Cotton Trust Protocol is providing technical assistance with environmental and financial benefits for cotton growers, to innovate the agricultural practices of the world’s third largest cotton-producing region.

Escalating conflict in the Red Sea will place inflationary pressures on retailers — and eventually their consumers — with potential consequences for the global economy at large.

This week’s round-up of global markets fashion business news also features interest payments outpace spending on clothes in Korea, Alibaba loses senior cloud executive as uncertainty persists and COP28 ends with deal on a transition away from fossil fuels.

The UN’s annual COP climate summit ended Wednesday with an agreement to transition away from fossil fuels. The fraught, days-long negotiations to get there point to the challenges facing fashion companies seeking to deliver on these ambitions.

According to The State of Fashion 2024, a potentially volatile global economy and geopolitical tensions in the coming months could further dent consumer confidence in key markets, requiring fashion brands, retailers and suppliers to bolster contingency planning and double down on operating efficiencies, among other measures.

Bottega Veneta designer Matthieu Blazy, Gap Inc CEO Richard Dickson, Brunello Cuccinelli and others discussed craft, culture, brand building and more, while a panel of sustainability stakeholders examined the colonial dynamics embedded in fashion’s climate crisis.