Pulse of The Fashion Industry 2018 Report
The Global Fashion Agenda, together with The Boston Consulting Group, have released the 2018 edition of the Pulse of the Fashion Industry report, an annual, in-depth assessment of the fashion industry’s environmental and social performance. The report follows the strong belief that the environmental, social and ethical challenges the industry faces today are not simply a threat, but instead an immense untapped value creation opportunity.
"The fashion industry has a major opportunity to secure a prosperous future. The industry is facing a rapidly growing demand worldwide, and at the same time many companies are stepping up their work toward more environmentally and socially responsible practices. But this is not enough. To put fashion on a path to long-term prosperity financially, socially, and environmentally, much more must be done."
The report notes 2017 as a turning point for sustainability, identifying that 75% of fashion companies have improved their score compared to last year – raising the pulse of the industry by six-points. The progress is encouraging, confirming that sustainability is rising on the corporate agenda, however the shift from 32 to 38 out of 100 indicates there is still a long way to go, 'The pulse of the industry is still weak'.
Interestingly, the report notes that this year’s progress came almost entirely from the mid-price segment, and given this segment accounts for half of the industry by revenue, progress here is particularly encouraging.