fast

Will the Rental Market Replace Fast Fashion?

Selfridges to Ganni, are putting their stamp of approval on the sharing economy — and wanting in, too.” data-reactid=”20″Peer-to-peer rental fashion platforms are seeing revenues reach an all-time high, while demand is diversifying far beyond occasionwear. Even established industry players, from Selfridges to Ganni, are putting their stamp of approval on the sharing economy — and wanting in, too.

a rental-only Levi’s collaboration, featuring 501 jeans and denim shirts made using deadstock materials.” data-reactid=”28″“People would argue that if you produce a responsible product yet sell and consume it in the conventional way, then you haven’t had a solid impact

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crisis puts the brakes on fast fashion

Zara, H&M and Gap may be slowly reopening their stores but the coronavirus epidemic has had a devastating financial impact on the fast fashion sector, which needs a radical overhaul if it is to recover, experts say.

Nearly 40 percent of businesses in the sector are expecting the impact to be “much worse” than that of the 2008 financial crisis, a Euromonitor International survey showed.

It expects sales of clothing and shoes to fall by at least 12 percent this year.

Global leader Inditex, the Spanish group which owns the Zara fashion chain, posted a first-quarter loss of 409 million euros on Wednesday, its first-ever loss since it went public in 2001.

With 88 percent of its stores closed at the height of the global lockdown, the group saw its sales practically halved.

But the group, which has solid financials and whose shares have held up well, has continued to

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