The International Sustainability Standards Board (ISSB) has developed the first global sustainability reporting standards, which will become mandatory in many countries from 1 January 2024.

The standards will measure how companies protect themselves against environmental risks and other sustainability issues, such as the use of forced or cheap labour.

The ISSB's two initial standards, which will be released by the end of Q2 2023, will help clothing and textile companies and other sectors report how they are affected by climate change and the environment.

The aim of the standards is to help investors assess the long-term value of listed companies, with sustainability reports issued alongside standard financial statements.

The new standards are expected to become mandatory in the UK, EU, Canada, South Africa and Australia, among other countries. The GRI, which remains independent of the ISSB, has announced it will create its own sustainability reporting standard for the clothing, footwear and textile sector.

London College of Fashion (LCF) students from the University of the Arts London (UAL) have showcased their innovative use of blockchain technology in collaboration with Selyn, Sri Lanka's pioneer in fair trade handloom manufacture.

The event, which took place at SOOK 42 South Molton Street in London, showcased a bag called the "Sandra" Clapping Bag, designed in a project between LCF and Selyn, which aimed to redefine the use and potential of handloom textiles with blockchain technology.

Over 25 LCF students successfully created a fully transparent and sustainable accessory, highlighting the future of ethical and sustainable fashion. Visitors to the event were able to scan an NFC tag to see the transparency of the production process, including the fibre and dyeing process, the artisan who wove the textiles, and the impact on communities and the environment.

The initiative was made possible through the partnership with PaperTale, a blockchain technology company that maximizes transparency and traceability in the production process.

"This partnership is a way forward to rewrite how we work between the global north and south," said Selyna Peiris, Selyn Director. "We are committed to ethical and sustainable production, and this partnership with LCF and PaperTale has shown us that better ways to create and manufacture are possible."

The exhibition showcased unique and exclusive textiles ideal for home, lifestyle, and fashion products for the conscious creative. All textiles were organic, fair trade, vegan, and cruelty-free, handmade by local artisans supporting and inspiring communities around Sri Lanka.

In recent years, Ghana has become a significant destination for used clothing exports from across the world. The West African nation has been inundated with second-hand clothing, which is often shipped from developed countries like Germany, the United Kingdom, and the United States.

According to the latest data, in 2022 alone, over 1.5 million tons of used clothing and textiles were imported into Ghana from various parts of the world. This is equivalent to 150 kilograms per person, making Ghana one of the largest importers of second-hand clothing in the world. It is estimated that about 40% of the used clothes imported into Ghana end up in landfills or other forms of waste.

Many Ghanaians rely on the second-hand clothing trade to make a living, either as traders or tailors. However, the influx of cheap used clothes from overseas has had a significant impact on the domestic textile industry, which has been struggling to compete with imported clothes for decades. This has led to the closure of many textile factories and the loss of thousands of jobs in the country.

Moreover, the used clothing trade has had a negative impact on the environment in Ghana. Many of the clothes that are imported are not suitable for reuse and often end up in landfills, polluting the soil and waterways. This has led to concerns about the health and safety of people living in the vicinity of these dumping sites.

Environmentalists and activists have been calling on the Ghanaian government to take action to regulate the import of used clothes into the country. They argue that the over-reliance on imported second-hand clothes is unsustainable and that Ghana should be investing in the development of its domestic textile industry.

Despite these concerns, the used clothing trade in Ghana continues to thrive, and many Ghanaians see it as a vital source of affordable clothing. With no immediate solutions to the problem in sight, it remains to be seen how the country will navigate the environmental and economic challenges posed by the used clothing trade.

Germany's used clothing exports rose significantly in recent years, with the country now ranking as the world's second-largest exporter of used clothing. However, within a decade, the amount of textile and clothing waste generated in Germany has risen by 70 percent, according to the Federal Statistical Office in Wiesbaden.

In 2022, around 462,500 tons of used clothing and other textiles were exported from Germany, equivalent to 5.5 kilograms per person. Although this represented a 10.7 percent decline from the previous year, it was still a significant amount.

Poland and the Netherlands were the biggest buyers of German used clothing, accounting for one-third of all exports. Other important destinations included Belgium, the United Arab Emirates, and Turkey.

Imports of used textiles to Germany fell significantly in 2022, totaling almost 63,000 tons. The largest proportion of imports (about 41 percent) came from Great Britain, with Austria, Switzerland, and France also exporting used textiles to Germany.

Despite the decline in exports, a considerable amount of sorted used clothing and textiles end up in African countries like Ghana and Nigeria. Commercial companies often transport baled old clothes by sea, with critics noting that much of the shipped goods are unusable and end up in the garbage. This exacerbates the textile waste problem in countries such as Ghana, where used textiles are widespread and often discarded on beaches or in bodies of water.

Luxury fashion brand Dior is set to make history by holding its pre-fall 2023 show at the Gateway of India in Mumbai.

The show, which will take place on March 30, marks the first time a major European luxury brand has held an official calendar show in India. The collection will feature stunning evening coats, silk dresses, and skirts inspired by desi silhouettes, according to a report by Business of Fashion.

The show is a collaboration between Maria Grazia Chiuri, the creative director of Dior, and Mumbai-based atelier Chanakya School Of Craft, which celebrates India’s embroidery culture and empowers women artisans.

India is a prime market for fashion brands due to its young population, with 65% of people under the age of 35, and a growing number of millionaires. The country’s digital revolution has made luxury brands more accessible to affluent fashionistas in tier-2 and tier-3 cities, resulting in a boost in sales for international luxury companies. The Euromonitor predicts that the Indian luxury market will grow from $5.9 billion in 2022 to $6.1 billion in 2023.

Dior has a long history with India, having been inspired by the country’s intricate embroidery for its autumn-winter 1955 haute couture collection. The off-white dress with patterns of gold and peacock motifs, known as ‘Soiree de Lahore’, is vintage elegance personified and featured a shoulder drape inspired by the Indian pallu.

Dior’s decision to hold a standalone show in India highlights the commitment to empowering women artisans and celebrating India’s rich embroidery culture.

Almost 25 per cent of global population fall under GenZ category consumers. In developed countries as well as in urban pockets of emerging economies like India, Gen Z has the unique advantage of being the first generation of digital natives who are supremely confident of themselves and are genuinely concerned about climate change, sustainability and of course having experienced a two-year long deadly pandemic at a relatively young age. Thus this generation can be termed as more pragmatic, more realistic and hence their growing distance with fast fashion as they deem it wasteful, describes a recent Business of Fashion (BoF) report ‘Gen Z and Fashion in the Age of Realism in the US’.

A generation of socially aware consumers

Moreover, to this generation that is in search of individual expressions of oneself, fast fashion also represents cloned looks. It seems American Zoomers are predisposed towards fashion as their top favourite entertainment, followed by dining and video gaming. Brands like Abercrombie & Fitch generated high appeal with association to social causes and sustainability, brands like fast fashion icon Shein scored low as a favourite brand. However, the ugly point of affordability seems to tilt buying favour more towards the latter.

In unprompted awareness among the respondents, alongside popular Nike and Adidas stands the luxe Gucci, winning hearts with relevant collaborations. As the global fashion industry inches towards 2025 to become worth $360 billion, nothing is more important than having the buy-in of Gen Z.

Fast fashion and Gen Z

A study conducted in the last quarter of 2022 at Sheffield Business School showcases conflicting data as presented by British Academy of Management. Having interviewed a sample of British Gen Z students, it was found that women were more likely to espouse the cause of wasteful fast fashion than men but when it came to buying fast fashion items, women tended to buy much more than men. While 63 per cent respondents expressed their concern of social and environmental impact of fast fashion, 17 per cent of respondents confessed to buying at least one fast fashion item per week whereas 62 per cent admitted to buying one fast fashion item once a month.

The research found the dichotomy between being pro-sustainability but indulging in fast fashion was simply the lower value of such clothing items and the social media driven need to be on trend. This begets the question that is Gen Z prepared to walk the talk? Fast fashion Shein’s unrivalled success story in the US alone indicates probably not.

The Indian context

In India, Gen Z is about 27 per cent of its population and their choices and preferences are going to dictate fashion’s success as a sector in India. A collaborated study by Ipsos-Isobar found 78 per cent will personalize to look good and 79 per cent will make their own fashion statement stand out. According to Senior VP of Marketing Reliance Brands, Deepika Gehani, Gen Z doesn’t just decide on price points but also differentiating flavours brands represent in their collections.

Indeed sustainable products are catching up among urban Zoomers with 60 per cent respondents in the study clearly preferring international brands collaboration with Indian designers and artisans to showcase a strong Indian identity, which is radically different to the millennials’ desire for a global representation. Almost 68 per cent respondents stated they preferred brands that gave back to the community and brands that upheld social causes.

Inditex, the fashion retail group that owns Zara, has invested 15 million euros in the 'Regenerative Fund for Nature' project, which aims to promote sustainable agricultural practices.

The initiative was launched by Conservation International and Kering in 2021, and Inditex's investment will be used to scale up regenerative agricultural systems in man-made cellulosic fibres and cotton.

The fashion industry is heavily reliant on agriculture and its raw materials, and the collaboration seeks to push for sustainability by supporting regenerative practices. These practices aim to increase soil fertility and function, restore water cycles, enhance biodiversity, and store carbon.

Conservation International, which currently operates projects in over 100 countries, aims to transform one million hectares of crop and grassland into regenerative agricultural systems by 2026 through the Regenerative Fund for Nature. The organization works with governments, companies, civil society, Indigenous peoples, and local communities to promote sustainable practices that benefit both people and nature.

By supporting regenerative practices in the fashion industry, Inditex and Conservation International hope to promote sustainability and help protect the environment.

New data from the Office for National Statistics (ONS) has revealed that British retailers experienced a stronger-than-expected month in February, with sales volumes rising by 1.2% across the sector.

This figure was a whole percentage point higher than the 0.2% growth that experts were predicting. The ONS also upgraded its January retail figures to 0.9% growth, up from a previous estimate of 0.5%.

According to the ONS, the soaring cost of living had helped some shops, such as discount department stores. Food shops saw a rise in sales of 0.9%, whilst non-food stores jumped up by 2.4%. Meanwhile, the amount spent at retailers rose by 6.3% over the last 12 months, excluding petrol and diesel, despite volumes falling 3.3%.

Despite the positive February sales figures, ONS noted that the broader picture remains subdued, with retail sales showing little real growth, particularly over the last 18 months due to rising prices hitting consumer spending power.

Retail spending appears to be more resilient than many expected at the start of the year, but retailers may be hoping that sales momentum will pick up pace as the year progresses, especially towards the end of the year when disposable incomes are expected to start increasing in real terms.

The fashion industry has long been notorious for its negative environmental impact, with leather being one of the most polluting materials. However, a new wave of eco-conscious designers is taking the industry by storm by shunning animal leather in favor of vegan alternatives.

According to the 2017 "Pulse of the Fashion Industry" report, published by the Global Fashion Agenda, Boston Consulting Group, and the Sustainable Apparel Coalition, cow leather is the most polluting material in fashion, while silk and wool are among the five most environmentally damaging materials. The leather industry is notorious for its use of noxious chemicals, which not only contaminate the waterways but also put workers in tanneries at risk of developing cancer.

Eco-conscious designers are making a statement by shunning animal leather in favor of vegan alternatives, slashing their environmental impact in the process. In fact, 33 leading Indian designers agreed to give animal leather the boot after being contacted by PETA India and Lakme Fashion Week. They joined the likes of Anita Dongre and Purvi Doshi, who have been leather-free for some time. Many designers and brands are also creating stunning shoes, bags, and other fashion items using innovative new leathers made from pineapple leaves, cork, fruit waste, recycled plastics, mushrooms, mulberry leaves, coconut waste, and more.

Helsinki Fashion Week banned leather from its catwalks starting in 2019. Other examples of eco-friendly fashion initiatives include Stella McCartney's use of vegan leather made from mushrooms.

Top international brands including H&M, which partnered with PETA US to create and launch a global vegan fashion collection called "Co-Exist Story", offer numerous vegan styles. And the list keeps growing as more and more consumers demand cruelty-free, eco-friendly fashion.

The modest fashion industry is projected to reach USD 122.73 billion by 2030, growing at a CAGR of 5.70% from 2023 to 2030. According to the State of Global Islamic Economy report, Muslim consumer spending, including modest clothing, is expected to reach USD 3.0 trillion by 2021 from USD 1.9 trillion in 2014.

This market growth can be attributed to the increasing number of Muslims worldwide who prefer to wear modest clothing. The modest fashion industry is gaining popularity in the fashion world, especially in the sports sector, thanks to favorable changes in international game regulations. As a result, the market is expected to see significant growth between 2022 and 2029, driven by rising lifestyle and clothing expenditures among the Islamic population, as well as growing investments in online retail distribution.

The market is segmented on the basis of product, type, and application. The product segment includes ethnic wear, sustainable fashion, and sportswear. The type segment includes abayas and hijabs, prayer outfits, burkha and naqaab, thobes and jubbas, sportswear, and other. Meanwhile, the application segment is divided into Islamic men and Islamic women.

North America leads the market, driven by the rapid growth of young Muslim population, the rising ethnic fashion trends, and increasing immigration of Muslim population. The region is home to several multinational companies manufacturing Islamic clothing. The Asia-Pacific region, on the other hand, is expected to see the highest CAGR due to the increasing penetration of designer clothing in countries such as Indonesia, Malaysia, and India.