Zara Is the Latest Fast Fashion Retailer to Launch an Eco-Friendly Line. Zara’s owner Amancio Ortega is the second richest man in the world, according to Forbes, with a $67 billion dollar net worth.
And someone who’s made such a killing off a fast fashion clothing brand certainly knows that his wealth doesn’t come without a cost to the environment. Next to oil, the fast fashion industry has been noted as the second most polluting industry in the world, and with this information, it’s up to leaders in the business to do something about it.
Luckily, Zara is following the lead of other fast fashion retailers like H&M, launching the Join Life collection, an eco-friendly range of clothing crafted from materials like Tencel, recycled wool, and organic cotton. Brexit barometer: Leave vote hits the high street - FT.com. Premium Digital All the benefits of a standard Digital Subscription plus: Unlimited access to all content Instant Insights column for comment and analysis as news unfolds FT Confidential Research - in-depth China and Southeast Asia analysis ePaper - the digital replica of the printed newspaper Full access to LEX - our agenda setting daily commentary Exclusive emails, including a weekly email from our Editor, Lionel Barber Full access to EM Squared- news and analysis service on emerging markets Brexit Briefing - Your essential guide to the impact of the UK-EU split Standard Digital Access to FT award winning news on desktop, mobile and tablet Personalised email briefings by industry, journalist or sector Portfolio tools to help manage your investments FastFT - market-moving news and views, 24 hours a day Brexit Briefing - Your essential guide to the impact of the UK-EU split.
6 Reasons the British High Street Is Struggling. LONDON, United Kingdom —Earlier this month, Marks and Spencer, the UK’s largest clothing retailer, recorded a 5.8 percent drop in sales of general merchandise (which includes clothing) for the quarter including Christmas, prompting chief executive Marc Bolland to resign.
Next, the UK’s second-largest clothing retailer, also fell short: full-price sales grew a meagre 0.4 percent for the two months ending 24 December, missing estimates by more than 5 percent. Both blamed the UK’s unusually mild winter, which stalled demand for seasonal clothing (M&S, in particular, has high shares in winter categories like knitwear and coats). But this excuse has its limits. Asos to reap Brexit benefits after fall in pound. Asos expects to benefit from the fall in the pound’s value after the UK voted to leave the EU because sterling’s slide has made its clothes cheaper for US and European customers.
The online fashion retailer said that because more than half of its sales come from outside the UK it is protected against a downturn in demand from British consumers. The pound has fallen about 10% since the 23 June referendum. It has plunged to a series of 31-year lows against the dollar, with some economists expecting it to remain low as the economy slows.
The Guardian view on Marks & Spencer: challenge of the demand for choice. If restoring this behemoth of the retail economy to robust good health was going to be easy, it would have happened years ago.
Mr Bolland is well-regarded. The company’s share price has been on an erratic but generally upward trajectory ever since he took over more than five years ago. He appears to have cracked the worst glitches in the digital sales business, and the food side continues to grow at a steady rate. Older women a growing opportunity in UK womenswear. Mature women aged over 55 present significant opportunities for the UK womenswear sector given their higher disposable income and preference for style and quality over low prices, analysts believe.
With the over-55s set to be the fastest-growing demographic over the next five years, new research from Mintel estimates the shopping habits of these women bodes well for the value of the market. According to Mintel, just under half (44%) of women aged 55 and over say they would like more stylish clothes for their age, compared to an average of 32% of all women. What is more, many of Britain's more mature women are "significantly" more likely than younger shoppers to prioritise product quality. Almost three-quarters (74%) of women aged over 55 highlight product quality in clothing as important, compared to just 55% of 16-24s.
Overall, the vast majority (89%) of women aged over 55 have bought clothing in the past year, and 41% have bought three or four different product styles. Fashionunited. London - With the EU referendum just a number of days away, both sides 'Remain' and 'Leave' are pushing hard to make their voices heard. As the rest of the world holds its breath and waits to see which way the pendulum will swing on Thursday, June 23, several prominent members of the UK's fashion industry voice their thoughts on the matter. Industry leaders including the likes of Vivienne Westwood, Ashley Williams, Jonathan Anderson and Claire Barrow have all publicly voiced their support for the staying in the EU, while other designers such as Christopher Raeburn, Sibling and Daniel W Fletcher used their catwalks shows during London Collections: Men (LCM) as platforms to show their support. A survey conducted the British Fashion Council revealed that 90 percent of British fashion designers will vote to stay in the European Union on Thursday, versus the 4.3 percent who will vote to leave.
Devaluation of the pound. How Instagram's New Feed Will Impact Brands and Influencers. LONDON, United Kingdom — Back in March, Instagram announced that “in the coming months” it would implement an algorithm that, instead of ordering posts in users’ feeds in reverse-chronological order, will order them based on "the likelihood you’ll be interested in the content," using signals such as likes, comments and searches.
Instagram says that users miss on average 70 percent of their feeds, so the change will ensure they see the content that matters to them. The company also tried to reassure its 400 million users that they would be told when the feed was rolled out and that at least initially, no posts will be removed from feeds — they will just be shown in a different order. Still, the announcement caused Insta-chaos. So, what are the influencers worried about? For many influencers, Instagram has become a valuable revenue stream. Ethical Fashion Brands Target Mass Market. BERLIN, Germany — Consumer concerns about poor working conditions in Asian factories and toxic chemicals used in fabric production are driving interest in ethical fashion, helping it start to appeal to a broader market.
The collapse of an eight-storey garment factory in Bangladesh last April that killed more than 1,100 people drew global attention to the perilous conditions endured by many workers in Asia's garment industry, which supplies big Western retailers. Since then, labor unrest over working conditions has plagued the sector in Bangladesh and Cambodia. The fashion industry has also been the target of vocal campaigns from environmental groups like Greenpeace.
They have piled pressure on global brands to stop using chemicals which they say can pollute rivers near factories and threaten the health of workers and consumers. "It shows how important the topic is among consumers. Exit from Chinese online store costs Asos £10m. Fashion website Asos is closing its local operations in China at a cost of £10m, less than three years after it launched.
The division, which has racked up costs as it struggled to win over Chinese shoppers, made a loss of £4m this year. Asos initially spent £9m launching the local service in 2013, £3m more than it had predicted, and the unexpected costs contributed to a slump inits share price in 2014. Since then the Chinese market has softened and Asos has prioritised expansion in the UK, Europe and the US. The company has faced difficulties with the Chinese postal service and with local preferences for other brands over its own label.
Asos has also faced tough competition from the Chinese company Alibaba, which dominates the online fashion market in China.