As Gen Z cry for more transparency and sustainability; investors ignore the hype and bet on millenials’ consumerism.
By Yvette E
Companies have an history of ignoring the generation that wants change in order to uphold the status quo.
Gen X is the forgotten generation because they were deamed as “unsellable”. They were the first generation to request transparency and want a brand to foster community. There demands were answered by a few companies (Levi’s, Vans, Brahmin, Lulemon) but they were mostly ignored.
Now, Gen Z is also being ignored for “unrealistic” demands on the fashion industry of transparency and sustainability. They have taken themselves off the retail rollercoaster and instead are trying to kick haul culture and shop sustainable.
So, once again, investors have gone back to the generation still steaped in haul culture, overspending and collecting, Millenials.
The Business of Fashion recently wrote an article about investors seeking the next faster fast fashion brand, a Shien look a like in the America market (a Chinese company).
Zara, H&M and ASOS are all moving away from fast fashion with Zara releasing a sustainable line, H&M moving towards transparency, and ASOS allowing smaller companies to sell on thier platforms.
Unlike Shein which has a 2 day manufacturing cycle, these brands have a week turn around. Realistically, China had alot of factories and there are none here.
An American company (all previous companies are Europe based) could never acheive such a fast turnaround. Yet, investors insist in looking for this unicorn.
As global warming has finally arrived we have to ask ourselves when will we put the planet before profit?