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Retail Businesses

#5 Challenges in Sustaining the Fashion Industry

The speed by which a campaign spreads across the globe and the need to keep the entire globe in mind while coming up with a new line of garments and products has never been more important as it is now
#5 Challenges in Sustaining the Fashion Industry
Image credit: Shutterstock
Founder, and CEO of Sid Productions
4 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The fashion industry works hard to give the world of fashion new looks in garments and accessories, but it comes with a price on resources as well as finances for the brand. It’s about time everyone in the industry accepted that we need to take steps to make the industry more sustainable for the age-old brands as well as the new upcoming labels. The biggest factors to consider while we work towards making the fashion industry more self-sustainable would be:

1) Cost of procuring raw materials

The increasing cost of procuring raw materials is one of the biggest challenges the fashion industry faces. The cost to not only grow, but also transform and treat the raw materials needed for making new fabrics and design lines has been on the rise since a long time now. Unless technology can help us recycle fabrics and garments more efficiently, the current cost of collecting raw materials will further challenge the fashion industry.

2) Labour

Many brands have been highlighted for the use of slave labour as they give the world their vast fashion lines to parade and flaunt. While the masses have been made aware of the conditions the workers are forced in, the fashion industry faces the brunt of negative emotions and constant disruption in the factories, as workers and consumers alike demand better working conditions and pay.

3) Transportation

Every fashion house needs to be able to keep their logistics in check from time and again. The increase in the cost of oil and petrol means the cost to transport the raw material to the factories and the finished products to the consumer markets has been increasing every year. Fashion houses can find the cost of producing their designs in countries with cheaper labour a heavy burden on their transportation costs. The increasing need to keep the logistics in limit and price their finished designs at par with market prices is proving to be a challenge for all brands in the fashion industry, regardless of their target market.

4) Consumer Sentiment

The millennials will soon be the largest demography in the world, with the largest say in the way people spend their money. The fashion industry will be compelled to take into consideration what the millennials prefer and that implies a change in almost every depart of their organization. Right from the methods used to grow and treat the raw materials, to the working conditions of the labourers in the factories overseas. While the millennials want to focus more on the overall sustainability of the globe, they are not ready to bear the burden of the increase in price a sustainable product comes with, that is something the fashion industry will have to bear the brunt of and find a way to overcome soon.

5) Respecting all Cultures and Races

While the increased growth of social media may have been a boon for the fashion industry, with people having access to fashion brands from across the globe at their fingertips, it has also proven to be a curse. The speed by which a campaign spreads across the globe and the need to keep the entire globe in mind while coming up with a new line of garments and products has never been more important as it is now. The sentiments of everyone and all religions across the globe has to be kept in while working on a new label, line, and product. The speed of social media and the spread of a possibly negative campaign can be a challenge that can break fashion brands or give them a stronger hold on the global level.

As a fashion producers face these challenge in the  field every day, and work daily towards improving the sustainability levels of the fashion industry in every assignment they take up and every project they see to completion.

 


 

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