Fashion is one of the largest, most resource intensive industries, but also a powerful engine for global growth and development. The current model, however, is pushing the earth beyond its planetary boundaries and challenging social justice. An industry primarily built on short-term financial incentives has many consequences, including the continuous creation of new collections, trends fuelling the demand to consume new products, overproduction driving prices down and underuse leading to vast amounts of waste. In a time when new technology is enabling traditional business models to disrupt, businesses and organisations have the opportunity to re-evaluate the current growth logic and call for systemic change.
Redesigning Value: How do we define value in fashion post-crisis?
The time for a reset has arrived. The worldwide pandemic is forcing fashion – a resource-intensive industry and a powerful engine for global growth and job creation – to undergo a dramatic transformation that is playing out in real time day by day, hour by hour.
When our industry begins to recover, we must be ambitious in rebuilding a better new normal. Redesigning Value, the updated theme for Copenhagen Fashion Summit 2020, 12–13 October, will navigate the current and future realities facing our industry as it weathers the storm of a global health and economic crisis – the repercussions of which will be felt for years to come.
This new theme aligns with emerging realities and will further explore the negative impacts of fashion, which have undeniably become more visible in recent weeks and months. Between now and October, we will all have to rethink how fashion operates to redefine value and spark positive, lasting change and impact.
“Through this challenging period, I have had the chance to speak with many industry leaders about the difficulties they are currently facing and what the future will look like post-pandemic. This crisis has forced a quarantine on the world and by extension a quarantine on consumption, raising the question of how this will impact the fashion landscape in the aftermath. Now is the time to think deeply about the constructs surrounding value in our fashion system so we can stimulate positive lasting change for our entire industry and planet.” – Eva Kruse, CEO, Global Fashion Agenda
There will only be a green lining to this crisis if we take the opportunity to learn how we as an industry can reconcile our aspirations for short-term survival and prosperity with the desire to establish a long-term thriving industry that is environmentally, socially and economically sound.
Redesigning value will prompt us to create more resilient businesses by bringing sustainable practises to the core of the business models. By re-examining how we can strengthen our relationships to our supply chain partners, our own employees and also our customers, we can help brands discover a newfound purpose and a willingness to emerge on the other side more resilient than ever.
“We have an opportunity to use this moment to reset, rethink and learn. This is an opportunity to future-proof and make our business more resilient, a challenge that does not set up the industry for success in the long run if we take short-term actions now,” urges Eva Kruse.
This crucial conversation will unfold at Copenhagen Fashion Summit 2020, which brings together decision-makers from across the globe and presents sustainable solutions. Secure your tickets now for the leading business event on sustainability in fashion, which is under the patronage of HRH The Crown Princess of Denmark.
What: Copenhagen Fashion Summit 2020
When: 12-13 October 2020
Where: DR Concert Hall, Copenhagen