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Monday, 07 September 2020 14:07

New report calls for exploration of fashion’s innovation capacity

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In its latest report, Forum for the Future calls on the fashion world to collectively explore the huge untapped potential of manufacturers’ innovation capacity to speed up sector’s circular transformation. Titled ‘Making the leap to circular fashion’ the report prepared in collaboration with leading fashion manufacturers like Cobalt Fashion, Ramatex Group and Yee Chain International distinctly states, through their ability to make sourcing and supply chain decisions, mass apparel and footwear makers can shape the fashion sector up and down the supply chain.

The report explains how a collective circular future for fashion can be built. Brands and retailers across the globe have been urged to not only study points of interaction with supply chain partners that inhibit collaboration, but also engage these partners at the stages of problem scoping and ideation. According to the report, manufacturers too need to build capacity within their organization to engage with circularity. It advises manufacturers to move from ‘market taker’ approach to ‘market maker approach.

Similarly, research and innovation ecosystems need to take initiatives to bolster local networks while staying globally connected. Supporting stakeholders like investors and financiers need to create enabling condition. The report’s insights have been drawn from ‘Circular Leap Asia’ (CLA). Funded by Laudes Foundation, CLA is a program focused on empowering Asian fashion manufacturers to lead the adoption and scaling of circular solutions.