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Fashion industry leaders meet online to discuss adaptation to COVID-19

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Cartier store, avenue des Champs Elysées, during the foreclosure of France

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The world is watching the fashion industry collapse as its retail stores remain closed and supply chains are blocked. How will the industry adapt and get out of the global COVID-19 crisis? A deluge of traditional media coverage exposed emerging humanitarian crises in manufacturing countries, including Bangladesh and India, following the cancellation of clothing orders by fashion brands, while many retailers face to a previously unfathomable absence of a request for discretionary mode. The comments of global brands have been widely contained because the spread of the coronavirus places them in unpredictable and changing circumstances on a daily basis.

For the first time since the start of the lockdown, and after the postponement of key fashion industry events, including the Copenhagen Fashion Summit and COP 26, Fashinnovation Worldwide Talks brings together the online fashion industry for two days of discussions on April 20 and 21, with more than 80 speakers. meet industry challenges and potential solutions. The event is free to attend online and speakers include fashion designers, academics and educators; sustainability and supply chain experts, journalists and broadcasters and software and technology providers alongside business analysts.

Fashinnovation Worldwide Talks 2020

Fashinnovation

Founded by Jordana and Marcelo Guimaraes in 2018, Fashinnovation started to organize events in New York to offer fashion industry decision-makers transformative technological solutions, alongside speeches and group discussions. While the adoption of technology-based solutions is accelerating quickly during the lockdown, the Fashinnovation team hosted this online event due to an overwhelming response from fashion industry leaders wishing to discuss the how the industry should adapt to current challenges and rebuild the industry in the months and years to come.

I spoke to a number of industry leaders participating in the Fashinnovation global talks on April 20 and 21 to ask their opinion on the current industry crisis, potential solutions and what their message will be during the talks. Industry veteran Kenneth Cole will share his views on social impact and give back at a time when fashion companies are in financial crisis. Cole says business and the community are interdependent and the proverbial hand that feeds each other. Reflecting on 35 years of activity and adapting to the challenges of the market throughout this period, he said: We have been referring to KennethCole.com as our global flagship product for over 5 years now, so the emphasis on e-commerce (during COVID-19) is not new, which is undoubtedly a relief when locking out retail stores. His message? Fashion is there not only for good, but for good.

Our societies are in difficulty, as are our already underserved communities … their mutual dependence has never been so real.
Kenneth Cole, designer

Along the same lines, Marie-Claire Daveu, Director of Sustainable Development and Head of International Institutional Relations at Kering, summed up the current position of the global industry by “emphasizing the extent to which social sustainability and is intrinsically linked to our global good. ” Daveu will participate in a fireside conversation with Marie Driscoll, general manager of luxury and fashion at Coresight, who said that we can see how the environment has benefited from the foreclosure and could, therefore, integrate sustainability into the About the foundation About sustainability as a business metric, she added: A larger group of investors are asking questions about sustainability, which means that Wall Street cares about sustainability.

What steps does Driscolls think we need to take to create a more resilient and sustainable industry? The scale business model needs to be looked at, she said. Does it really make sense, she asked? The problem of overstocking, she said, is that we don’t keep track of overstocking that doesn’t sell – we need to bring together environmental teams and accountants to really look at the cost to the rest of the world , not just what it was (at the price), or how much it cost to get rid of it. Highlighting algorithmic modeling as a solution, she concedes that accessing the required data, both in type and in volume, is probably the first challenge here.

Daveu and Driscoll will discuss the climate impact strategy during their discussion, including Vision 2025, established by Kering in 2017 to reduce their ecological footprint by 40% by 2025.

Consumers care about brands that have values. These are no longer (only) transactions.
Marie Driscoll, Director General of Luxury and Fashion at Coresight

Innovation director of the hybrid materials science laboratory and cult fashion brand Basics, Pangia, Dr Amanda Parkes, will have a fireside chat with her colleague and founder of the Future Tech Lab, Miroslava Duma. Parkes revealed that COVID-19 has raised consumer expectations for brands and companies that behave not only responsibly and transparently, but with empathy. Alluding to their main purpose, she said: Pangia was founded on the belief that science and technology can provide solutions to the problems plaguing the fashion industry, which today include overstocking , toxic chemical and material processes and opaque global supply chains. The first patented product launched by the brand was the FLWRDWN down jacket containing plant down instead of the animal equivalent, without any compromise on performance. According to Parkess, the current situation is an opportunity to accelerate and prioritize the adoption of scientific and technological innovation.

StockX operates a phenomenally successful e-commerce site for rare sneakers and sportswear, with 3 million Instagram subscribers following their latest product drops, which can be purchased directly from the app. Founder Josh Luber will participate in the Innovating Via eCommerce roundtable on the first day of the conference. Asked about the opportunities offered by the current crisis, Luber said: (the) StockX platform has remained strong and stable throughout the pandemic. We have all seen the huge record that COVID-19 imposes on the retail trade, but as an aftermarket, we are in a unique position. The brands themselves are not able to provide the level of access to the sneakers and other products that make up our catalog, so consumers are turning to StockX as their primary destination for these coveted products.

Josh Luber, co-founder, StockX, on MoneyConf Stage at RISE 2019

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When asked why he chose to attend, he said: Fashinnovation creates a forum for accessible, authentic and transparent conversations about the industry. In an age of uncertainty, when everyone was forced to pivot, knowledge sharing is perhaps more important than ever.

The African Fashion Foundation (AFF) will organize a round table on African heritage and design, including the founder Roberta Annan and Alexis Rai Gaynor Hernandez, director of digital strategy and partnerships. Hernandez explained the importance of the participation of AFFs in online discussions: fashion and aesthetics are major components of African heritage, but due to the limited funding, resources and opportunities on the continent, designers, Fashion professionals and other cultural and creative professionals are unable to produce and display to competitive standards. Despite this, a renaissance is happening on the African continent through its orange economy, she says, resulting in increased global interest in the cultural, economic and technological advancement of Africa. The discussion will include views on how Africans are increasing their participation in the global economy by devising scalable solutions to include their cultural and creative talents, rather than conforming to the euro or Western standards.

At the time of going to press, there were 16,000 conference registrants covering Asia, the Nordic countries, Europe and the United States, with a rate of approximately 2 registrations per minute. With panel titles covering how to adapt and thrive in times of crisis, how sustainability can be part of the solution in the current crisis and the circular economy and supply chain from A to Z, the content addresses the technology, ethics, sustainability, new business models and beyond.

This Fashinnovation event promises to be a starting point for new strategic thinking, which examines global supply chains, questions failing metrics and business models, and asks what role science and technology will play in the reinvention of industries. the fashion. Register here to participate.

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