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Fast fashion aims to give consumers access to the latest fashion trends quickly at affordable prices. The global fast fashion market is rapidly growing, with the market size expected to increase from $106.42 billion in 2022 to $122.98 billion in 2023 at a CAGR of 15.6%, and to $184.96 billion in 2027 at a CAGR of 10.7%. [23]
The supply chain in the fashion industries has some unique properties, as clothing fashion changes several times a year (often seasonally). The supply chain for clothing often requires constant analysis of new fashion trends to manage the quantity needed for various markets. [54]
The current condition of the fashion system is related to the temporal aspects of fashion; the continuous stream of new goods onto the market, or what is popularly called "fast fashion". As a way to conform to the latest fashion styles, current fast fashion trends presuppose selling clothing in large quantities. [ 33 ]
Somers is founder of Fashion Revolution, a global movement which arose from the Rana Plaza garment factory disaster in Bangladesh on 24 April 2013. [8] [9] Fashion Revolution is the world's largest fashion activism movement campaigning for systemic reform of the fashion industry with a focus on supply chain transparency.
A supply chain is the network of all the individuals, organizations, resources, activities and technology involved in the creation and sale of a product. A supply chain encompasses everything from the delivery of source materials from the supplier to the manufacturer through to its eventual delivery to the end user.
The supply chain froze for a few weeks in some countries, which materialized by a lack of fabric availability and order cancellations. Many fashion designers saw the pandemic as a catalyst for change, a way to break away from the industry's constraints. Most fashion companies focused on innovation with online sales to maintain revenue afloat. [4]
Clothing factory in Montreal, Quebec, 1941. Clothing industry or garment industry summarizes the types of trade and industry along the production and value chain of clothing and garments, starting with the textile industry (producers of cotton, wool, fur, and synthetic fibre), embellishment using embroidery, via the fashion industry to apparel retailers up to trade with second-hand clothes and ...
Fashion Transparency Index (2016 & 2017) ranks the biggest global fashion companies (40 in 2016, 100 in 2017) according to their level of transparency based on a questionnaire and publicly available information about supply chain issues. [50] Money, Fashion, Power (2017) is a zine which comprises 72 pages of poetry, illustrations, photography ...