Fashion brands tap into demand for sustainable fabric | WARC | The Feed

Fashion brands tap into demand for sustainable fabric

Discarded and castoff fabrics, known in the clothing and fashion industry as ‘deadstock’, cost a fortune – by some estimates, up to 15% of net income for large companies – but a growing number of fashion brands and resale sites are now seeking to make better use of the material.

Why it matters

Numerous studies have found that the global pandemic has heightened consumer demand for sustainability and, by ‘upcycling’ material that would otherwise go to waste, fashion brands can demonstrate their green credentials while also tapping into new revenue streams, Business of Fashion reported.

Takeaways

• Fashion’s biggest brands have tended to display little interest in deadstock, but many are now quietly exploring this new market, including French luxury giant LVMH, which plans to launch its own resale platform later this year.
• Established players include resale site TheRealReal, which will kick off Earth Month in April with the launch of ReCollection, an old garment upcycling programme conducted in partnership with brands like Balenciaga and Stella McCartney.
• Online marketplace Queen of Raw is another sustainable resale site and it has reported that the number of transactions taking place on the platform increased nearly 125% quarter-over-quarter throughout the pandemic. Many experts believe the trend is only getting started.

Key quote

“For so long this waste and unused inventory has been going on and nobody was paying attention to it. It doesn’t make sense for people and planet, but it sure as hell doesn’t make sense for profit” – Stephanie Benedetto, chief executive and co-founder of Queen of Raw.

Sourced from Business of Fashion