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“Those operating on thin profit margins are often reluctant to make expensive investments that do not offer short-term returns,” says advocacy group Fashion Revolution policy and campaigns manager Ciara Barry.
BMW has invested in Natural Fiber Welding, which has partnered with brands including Ralph Lauren and was a recipient of funding provided by a Stella McCartney-backed initiative, and said in 2021 that the startup’s bio-based leather alternative Mirum met its criteria for durability, cost, scalability and environmental impact.
According to Yems, due to the neglect and active closure of physical third places, accelerated by Covid, coupled with the ubiquity of social media in our lives, the online world began to occupy the role of third space.
Sports apparel and merch brand Fanatics has reported a 1000 per cent surge in merchandise sales, and with rookies Caitlin Clark and Angel Reese topping these figures, the next draft class has a tough act to follow.
It’s a sudden shift in tone from full-throttle Brat summer, which commentator and brand strategist Tariro Makoni puts down to anxiety around the mixed messages consumers are receiving about the state of the economy.
When Hedi Slimane replaced Phoebe Philo at the helm of Celine in 2018, many were up in arms about the brand’s stark transition from chic, arty, wearable minimalism to ostentatious, skimpy — some said rakish — pieces that excluded many women from participating.