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Finally, Australia’s First Opportunity to invest in Fashion Sustainability as an Industry

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By Partner

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Fashion

The first, annual Australian Circular Fashion Conference will showcase leading expert and consultants in the field of circular and sustainable practice, for the retail industry. The conference will attract over 280 business leaders from the largest multinational companies in the Australian Fashion Industry.

Public and media awareness for sustainable and environmental impacts of the fashion sector has risen significantly over the past 15 months. Approximately half the Australian female population (18-30 and 38-45 years old) are consciously aware of eco-friendly and ethical information on brands. They’re the highest spending market. The conference will help to improve reductions in natural resources and economic returns in production, which will reflect permanent manufacturing improvements that will continue to accumulate in the coming five to ten years and beyond, multiplying their impact substantially.

We have the solutions to sustain business longevity because our experts understand the business of fashion.

Through environmental stewardship and improving manufacturing best practices Australian Fashion retail manufactures stand to gain upwards of $10 million in offshore operating costs over 3-5 years (1). Through agile supply chain management brands can increase profitable growth by 20% annually (2). Waste is growing at a compound growth rate of 7.8% pa. and commercial waste levies have increased from approx. 1% to 2-3% of operating costs (3).

Taking risks on environmental exploitations are no longer an option - leading to brand damage and revenue loss.

The Australian Fashion Industry has the opportunity and market resources to become innovative leaders to overcome world market change.

By 2030 it is predicted that we will be using two Earth’s worth of resources and the demand for clothing is expected to have risen by 63% (4). Australia should be the leader in environmental sustainability, our environment is one of the most spectacular on earth and It is the most important resource we have. There are few industries where impact by communities can push for change and enable the facilitation of change.

The importance of uniformity from the nation’s Industry, holds enormous power over international brands with stores in Australia and the social impact of positive change will be felt for generations to come.

A company’s approach to sustainability management is indicative of how it deals with stakeholders in general, including consumers, regulators and shareholders. It can serve as a proxy of management quality.

Footnotes:
1. NRDC white paper - The textile industry leaps forward with Clean by Design: Less Environmental Impact with Bigger Profits, 2015
2. Harvard Business Review, Hau L. Lee - The Triple-A Supply Chain, 2004
3. MRA Consulting Group - State of Waste 2016 – current and future Australian trends, 2016
4. Copenhagen Fashion Summit + Boston Consulting Group - Pulse of The Fashion Industry Report 2017

Australian Circular Fashion Conference
Partner Content